JPY Daily News

Yen Erases Most of Last Week's Gains

Starting off the week, the Yen gave up most of its recent gains as riskier currencies have begun to assert themselves in the marketplace. The U.K. Pound has moved up close to 50 pips against the Yen since markets opened, while AUD/JPY had gone up over 60 pips before staging a slight correction. USD/JPY has been trading at a relatively steady rate since late last week, and will likely continue to do so as long as risk taking dominates the market place.

Today, Yen traders will want to pay attention to both the U.S. ISM Manufacturing PMI, as well as Fed Chairman Bernanke's speech. While neither of these indicators directly affects the Japanese economy, their results will heavily influence the status of safe haven currencies like the Yen.

Current Time: 05/27 00:54 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
08/02
	02:30	JPY	Average Cash Earnings	y/y	0.1%	0.7%	1.5%
	00:50	JPY	Monetary Base	y/y	3.6%	3.7%	6.1%