JPY Daily News

Yen Continues to Make Gains despite Rumors of Government Intervention

Rumors continue to circulate that the Japanese government will soon step in to limit the continued growth of the yen in recent weeks. The Japanese economy is largely export based. When the yen is valued at a high rate, Japanese products are less attractive to foreign buyers.

While the yen continues to make gains against its main currency rivals, it appears that the rumors may be having a slight affect on JPY pairs. The EUR/JPY has steadily gone up in overnight trading, and is currently at the 109.75 level. Similarly, the GBP/JPY has moved up some 60 pips in the last few hours and is trading around the 133.40 level.

Today, yen values will largely be determined by U.S. news events. The yen and dollar are both considered to be safe haven currencies, and the two usually move in a similar fashion. Should any of the news create risk aversion among investors, the yen may continue its profitable run in afternoon and evening trading.

Current Time: 05/27 00:31 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
08/19
	05:30	JPY	All Industries Activity Index	m/m	0.2%	-0.2%	0.1%