JPY Daily News

The Yen Slides as Investors Move to Riskier Assets

The Yen slid against the EUR, trading at 133.01 per EUR after declining as much as 2.1% in its largest intraday loss since May. The Yen was also down 0.8% against the USD trading at $94.25. The drop followed a report that showed U.S. industrial production for June fell less than forecasted and Intel Corp.'s second quarter earnings were higher than estimated.

The JPY experienced a phenomenal rally these past two weeks as investors retuned to the safety of the Japanese currency following the release of poor U.S employment data. However, this rally was snapped Monday with a better than expected start to the 2nd quarter earnings season. The positive earnings reports from Goldman Sachs and Intel rekindled risk appetite among investors diminishing demand for the safe haven Yen and in turn pushing them to riskier, higher yielding currencies. With stock markets continuing to rally it is likely the JPY will extend its losses during today's trading as well.

Current Time: 05/26 23:34 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
07/16
	06:00	JPY	BoJ Monthly Report		*	*	*