JPY Daily News

Yen Falls on Low Safe-Haven Demand

The Yen fell for a 2nd consecutive day against the EUR after the Federal Reserve said economic activity is leveling out, sapping demand for Japan's currency as a refuge. The Yen depreciated to as low as 96.23 from 95.51 vs. the US Dollar at the close of Tokyo stock trading. A weaker domestic currency increases the value of overseas sales at Japanese companies when repatriated.

The JPY also weakened against all 16 major currencies as Asian stocks extended a U.S. equity rally on signs the global slump is abating, encouraging investors to buy higher-yielding securities. For today, most attention will be paid to the New Zealand Dollar (NZD) following the evening release of its retail sales reports. With a recently bullish NZD, this report has the potential of creating a reversal to this trend if it comes out worse than forecast.

Current Time: 05/27 04:12 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
08/13
	00:50	JPY	Monetary Policy Meeting Minutes		*	*	*
	00:50	JPY	Tertiary Industry Activity Index	m/m	-0.3%	-0.3%	0.1%