JPY Daily News

With No BOJ Intervention in Sight, JPY Continues Rise

The Japanese yen (JPY) was given a boost yesterday, as market reports showed further flight to safety. Piling atop recent reports on Japan's shrinking household spending figures, the publication of Japanese trade data has shown a decline in exports consistent with an overly strengthened yen. Despite a meeting between French and German ministers over economic cooperation, the Pacific nations appear to be rushing ahead with their bullish endeavors, contrary to market outlook among the European nations.

Japan's economy has been much worse in its performance than it was expected to be just one month ago. Investors have been piling into the JPY en masse as its strength as a store of value gained appeal. As housing slumps, and as monetary adjustments take place in China and New Zealand, the Japanese and Swiss economies now finds themselves gaining the most from the blows coming down on Europe. Should this bombardment continue, the JPY will likely remain in its current bullish channel.

Current Time: 05/27 00:02 GMT

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