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JPY Daily News
Yen Continues To Strengthen Vs. The Majors
The Japanese yen rose today against most of the major currencies during yesterday's trading. The yen gained about 140 pips against the British pound. The yen also saw a 90 pips rise vs. the U.S. dollar on early trading.
Positive data from the Japanese economy has supported the yen yesterday. The Average Cash Earnings report, which measures that change in the total value of employment income collected by workers, rose by 1.3% on July, beating expectations for a 0.9% rise. In addition, the Housing Starts report showed that the number of new residential buildings that began construction grew by 4.3% on July, reaching well above expectations for a 2.5% rise. The positive figures have supported estimations that the Japanese economic recovery is advancing, and as a result boosted the yen.
Looking ahead to today, no significant publications are expected from the Japanese economy. Traders are advised to follow the major publications from the U.S. economy, and to follow U.S. and Japanese equity markets. Traders should take under consideration that positive signals might increase risk-aversion, and as a result weaken the yen.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 09/01 | ||||||||
| 00:50 | JPY |  Monetary Base | y/y | 6.1% | 6.3% | 5.4% |  | |
