JPY Daily News

Yen Absent from Market, Gaining from Flight to Safety

The JPY has been trading with largely positive results since yesterday as investors turn their focus elsewhere amid global reactions to the death of Osama bin Laden. After reaching upwards of 82.75 on Monday, the USD/JPY quickly dropped to a daily low of 81.00 by Tuesday evening, but so far the pair has remained stable between the two prices with minor downticks in favor of the yen.

With Japan celebrating Children's Day, amid Golden Week, liquidity throughout the region will be somewhat lower. The JPY could gain from this absence as the rest of global traders shift towards Europe, as well as safe havens, amid strong data releases like today's interest rate decisions out of Europe. As for today, the JPY will be absent from the market again, meaning global investors will continue to focus their attention elsewhere, creating mixed results for the yen. But the recent shift into safe havens following expectations of an international reprisal from al Qaeda in response to bin Laden's death has helped lift the yen and should continue to do so for the remainder of the week.

Current Time: 05/27 00:08 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
05/05
		JPY	Japanese Bank Holiday		*	*	*
	00:50	JPY	Monetary Base	y/y	16.9%	14.3%	-