JPY Daily News

Weaker Yen inspires Japanese Stock Market Rally

Investors dropped the JPY yesterday, initially inspired by the U.S. stock market rally and the pushed further by better-than-expected home resale figures from the U.S. Japan's stock market also rallied, as car makers, such as Honda and Toyota, made large gains. Other industries, such as shipping, made big gains as well.

The USD/JPY rate remained unchanged to close at 89.57. Against the Pound, the JPY slid over 170 pips to close at 128.93. Also, the JPY declined by over 180 pips versus the EUR to finish yesterday's trading session at 116.53. If the Japanese economy continues to publish better-than-expected results during today's trading, then we can expect much of the same behavior when it comes to the Yen versus its main currency pairs. For now, traders should expect the Yen to remain within its current trends as there is little news which can interrupt its recent behavior.

Current Time: 05/27 00:01 GMT

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