JPY Daily News

Yen Continues to Gain on USD

The USD/JPY pair has tumbled close to 40 pips since markets opened for the week and is once again set to fall below the 81.00 level. The yen had begun to lose ground against its US counterpart late last week, but following the G20 summit that occurred over the weekend, has once again resumed its bullish trend.

The summit ended with a pledge from the participating countries to not actively devalue their currencies. Traders will remember that the Bank of Japan did just that several weeks ago, in an effort to weaken the JPY. Japan is dependent on a week yen in order to boost its vital export industry.

With the yen once again gaining on the dollar, investors are eagerly waiting to see if Japan will maintain its pledge of non-interference in the marketplace. Comments from officials in Japan are not encouraging, and traders will want to pay close attention for any surprise moves the BoJ may make this week. If something indeed happens, expect the USD to spike against the yen.

Current Time: 05/27 00:31 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
10/25
	00:50	JPY	CSPI	y/y	-1.1%	-1.0%	-1.1%