JPY Daily News

Yen Higher vs. Major Currency Pairs

The Japanese yen experienced a bullish trading session yesterday, as it appreciated against most of its major currency pairs. The JPY extended gains versus the EUR during yesterday's trading session and closed at 88.75. The yen also saw bullishness against the GBP as it jumped around 70 pips and closed at 133.25.

Further strengthening could be seen in the yen if other nations begin to raise interest rates in order to ward off inflation. This could potentially wreak havoc on the Japanese economy by making Japanese exports relatively more expensive when compared to their foreign counterparts.

As for today, traders have very little fundamental news emanating from Japan as the only indicator being released is the Core Machinery report. Analysts forecast the figure to increase from its previous reading. This indicator typically generates small amounts of volatility. However, the EUR appears to be clutching the reins of today's market. Traders would be wise to note its future direction as it usually carries a heavy impact on the other currencies.

Current Time: 05/27 04:24 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
03/08
	05:00	JPY	Economy Watchers Sentiment		44.3	45.7	48.4
	16:00	JPY	BoJ Governor Shirakawa Speaks		*	*	*
	23:50	JPY	Core Machinery Orders	m/m	1.7%	2.8%	4.2%