JPY Daily News

Yen Falls against the Majors

The Japanese Yen appears to be returning to a bearish posture, especially following yesterday when it finished the day somewhat down versus all of its major rivals. Hitting the 144.30 level against the GBP, and even dropping to the 124.95 level against the EUR, the Japanese currency is a little worse for wear considering its latest movements.

Many economists point out that the banks in Japan being closed in celebration of the greenery day play a significant role in this latest downtrend. The thinly traded JPY will likely appear weak until the Japanese markets come back online early Wednesday. In other Asian news, the currencies of the south Pacific (Australia and New Zealand) appear to be gaining heavily against most of their currency rivals. Traders would be wise to note the upward movement of these pairs and trade accordingly.

Current Time: 05/27 04:05 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
05/04
		JPY	Bank Holiday		*	*	*