JPY Daily News

Yen Loses Ground Amid Economic Recovery Hopes

The Japanese currency fell against the U.S Dollar and the GBP on Thursday, paring losses made the previous day. The JPY hit its lowest level in more than 2 weeks against the Dollar on Thursday, and a 3 week low against the EUR as traders in Asia sold Yen in anticipation of outflows from Japanese investors. The Yen also dropped versus the Swedish Krona and Norwegian Krone yesterday as Japanese financial companies prepared to raise at least 700 billion Yen ($7.42 billion) for funds that will be invested globally.

Much of The Japanese currency's decline came about after the Finance Ministry said the contraction in the nation's exports slowed to 35.7% in June from a year earlier. Japan's trade data however provided hard evidence that the global economy is now on the mend, analysts stated. As the risk sentiment improves on the back of receding wariness about the prospects of the global economy, the Yen may weaken further against higher-yielding currencies.

Current Time: 05/27 04:31 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
07/24
	05:30	JPY	All Industries Activity	m/m	2.6%	1.0%	0.7%