JPY Daily News

Yen Lower in Holiday trading

The Japanese yen was poised to gain versus the EUR on concerns that the credit ratings of Dubai banks face downgrades, spurring demand for Japan's currency as a refuge. Against the Dollar, the japans currency declined 0.4% to 92.00 yen with a session low of 92.07 yen, a 2-month record.

Traders said upward pressure on long-term Treasury yields has provided support to the USD against the yen after U.S. government bonds traded lower on Monday and pushed the benchmark 10-year note yield to its highest level in nearly five months. The dollar/yen relationship has recently become more sensitive to Treasury yields and Interest Rate expectations because the currency pair has lagged major crosses during this month's rally in the greenback when investors started to price in a stronger U.S. recovery.

Current Time: 02/13 19:42 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
12/30
		JPY	Japanese Bank Holiday		*	*	*