JPY Daily News

Yen Falls after Nearing Record High against USD

After dropping to 80.88 yesterday, the USD/JPY pair has since staged a minor correction and is currently trading around the 81.40 level. While the pair is still a long way from hitting its all-time low of 79.75, analysts are paying close attention to any intervention the Bank of Japan may stage to bring the oft-traded cross back to a more reasonable level. Any gains the yen makes on the US dollar are largely seen as unfavorable in Japan, which depends on a weak currency to boost its export industry.

Today, any news out of the US regarding future quantitative easing measures is likely to impact the USD/JPY pair. Particular attention should be given to the speech from Fed Chairman Bernanke at 12:15 GMT. In addition, should any of the numerous US indicators set to be released today come in worse than expected, risk aversion could return to the market and boost the yen to close out the week.

Current Time: 05/27 04:04 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
10/15
	05:30	JPY	Revised Industrial Production	m/m	-0.3%	-0.3%	-0.5%