JPY Daily News

Yen Continues to Book Gains Versus the Dollar

The yen rose against the U.S dollar on Monday and the USD/JPY could test its all-time lows as Japanese insurers and companies repatriated funds to help pay claims and reconstruction costs in the wake of the country's devastating earthquake. The pair continued its bearish session during yesterday trading, and reached as low as 81.70 amid a broad sell-off in the USD.

Analysts said the yen could rise further in the near term, potentially testing its previous record, though they cautioned against betting aggressively on the currency's strength.

The JPY may come under pressure in the medium to long run as the earthquake will likely force the Bank of Japan to keep its easing policy for longer to help the economic recovery.

Current Time: 05/27 00:24 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
03/15
	23:50	JPY	BSI Manufacturing Index		-8.0	*	-3.2