JPY Daily News

Yen Benefits from Stock Market Losses

The yen rose across the board on Wednesday as investors trimmed riskier positions in higher-yielding currencies. This came as a result of stocks falling after weaker than expected U.S. data pushed many back into safe-havens. By yesterday's close, the JPY rose against the EUR, pushing the oft-traded currency pair to 132.95. The yen also saw bullishness against the USD and closed at 90.30.

A slide in European shares, led by declines in the banking and energy sectors, accelerated the high-yielding Australian dollar's sharp fall triggered by lower-than-expected domestic inflation data, while boosting the low-yielding yen.
Further strengthening could be seen in the Yen if other nations begin to raise interest rates in order to ward off inflation. This could potentially wreak havoc on the Japanese economy by making Japanese exports relatively more expensive when compared to their foreign counterparts.

Current Time: 02/13 21:35 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
10/29
	23:15	JPY	Manufacturing PMI		54.5	-	54.3
	23:30	JPY	Household Spending	y/y	2.6%	1.2%	1.0%
	23:30	JPY	Tokyo Core CPI	y/y	-2.1%	-2.0%	-2.2%
	23:30	JPY	National Core CPI	y/y	-2.4%	-2.3%	-2.3%
	23:30	JPY	Unemployment Rate		5.5%	5.6%	5.3%