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JPY Daily News
Yen Drops to 5-Day Low against USD
The USD/JPY broke the 77.00 barrier yesterday to reach a 5-day high before edging back down in late day trading. Analysts attributed the spike to a return to safe-have assets following another negative day for the euro. The yen faired significantly better against its other main currency rivals, like the euro and British pound, as it was able to take advantage of its reputation as a stable currency during market volatility.
Today, the JPY is forecasted to remain bullish against the EUR and GBP, as a batch of euro-zone news is likely to create major price movements in the market. Without positive European news, the yen may continue its bullish run to close out the week. At the same time, the USD seems to be benefitting most from the current bout of negative euro-zone data. If the current trend remains, the USD/JPY is likely to rise even further.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 01/12 | ||||||||
| 05:00 | JPY |  Economy Watchers Sentiment | 45.0 | 46.3 | 47.0 |  | ||
| 06:00 | JPY | Prelim Machine Tool Orders | y/y | 15.8% | - | 17.4% | | |
| 23:50 | JPY | M2 Money Stock | y/y | 3.0% | 3.1% | - | | |
