JPY Daily News

Yen Looks to Global Economic Recovery

The Japanese Yen completed yesterday's trading session with mixed results versus the major currencies. The JPY fell against the EUR yesterday, pushing the oft-traded currency pair to 137.12. The JPY experienced similar behavior against the GBP as the pair closed at 158.70 by day's end. The Japanese Yen did see some bullishness as well as it gained over 100 pips against the USD to close at 97.20.

Japan's deepest recession is easing now, as Japan's exports have received a boost from public spending in China and other countries, while Prime Minister Taro Aso's record stimulus spending on tax incentives and cash handouts helped consumer sentiment advance to a 10-month high in April. Even as overseas demand shows signs of stabilizing, exports and factory output have fallen by more than a third since the global financial crisis deepened in September, putting pressure on companies to cut jobs and investments.

Current Time: 05/27 04:31 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
06/10
	00:50	JPY	Final GDP	q/q	-4.0%	-4.0%	-3.8%
	00:50	JPY	Final GDP Price Index	y/y	1.1%	1.1%	0.9%