JPY Daily News

USD/JPY Lower as Japanese Industrial Production Plummets

The JPY lost ground against almost all of its rivals yesterday. An S&P downgrade of Japan's debt outlook from stable to negative has caused a shift away from the island economy in the short- to mid-term. The USD/JPY, however, was trading lower as investors fled the greenback after the Fed's monetary policy statements yesterday afternoon. After reaching upwards of 82.75, the pair quickly dropped to a daily low of 81.61 before stabilizing.

This morning's sharp downturn in industrial production, linked with similar downturns in Great Britain, Europe and the United States, also played a role in pushing the dollar/yen back to its current consolidation level. While the yen suffers from its own economic concerns, dollar bears outpaced the yen's in this morning's trading hours, helping to lift the yen despite its dire economic standing. The pair also looks to be continuing this movement for the foreseeable future given the shift in sentiment away from the US dollar.

Current Time: 05/26 23:53 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
04/28
		JPY	BoJ Press Conference		*	*	*
		JPY	Monetary Policy Statement		*	*	*
		JPY	Overnight Call Rate		<0.10%	<0.10%	<0.10%
	06:00	JPY	Housing Starts	y/y	10.1%	-2.0%	-2.4%
	07:00	JPY	BoJ Outlook Report		*	*	*