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JPY Daily News
Yen Hits a 5-Month Low against the Dollar
The Yen continued its decline against the Dollar, touching on a 5-month low during yesterday's trading. After the USD/JPY struck the 101.42 level the pair immediately reversed course. During early morning hours of the Japanese trading session the pair was still declining near the 100.50 mark. The recent decline of the Yen was due to a significantly distressed Japanese economy and a rally of global equity markets this past month.
The appreciation of the Yen seen early this morning may depend on the outcome of the Bank of Japan's (BoJ) press conference later today and the performance of global equity markets. A bullish statement from the BoJ could lead some traders to believe the BoJ is forecasting a rosier financial climate in Japan. Also a continuation of losses in global equity markets could increase the appetite for the Japanese Yen. If this happens, look for the Yen to trade near the 100.25 level.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 04/07 | ||||||||
| JPY |  Monetary Policy Statement | * | * | * |  | |||
| JPY | Overnight Call Rate | 0.10% | 0.10% | - | | |||
| JPY | BoJ Press Conference | * | * | * |  | |||
| 00:50 | JPY | Current Account | 0.26T | 0.51T | - |  | ||
