JPY Daily News

Yen Mixed as Risk Appetite Gains Momentum

This week's talk of rising risk appetite may have found solid ground yesterday as American existing home sales data helped highlight growing consumer optimism, lower oil inventories signaled positive industrial growth in the US, and Australian import prices and inflationary data grew more than expected, leading many to speculate a tightening of monetary policy by the Aussie giant. The impact has been for safe havens, like the Japanese yen, to find its feet swept out from underneath it, but mixed versus other safe havens, like the US dollar and Swiss franc.

The yen has fallen against most of its currency rivals since yesterday. The USD/JPY, however, has remained flat near 82.50 since Monday. Against the British pound, traders have also witnessed a leveling-off effect as the pair consolidates around 135.50. With the economic calendar today focused on British and Canadian economic news, the yen will likely not experience much change unless the US economy continues to release positive data. If that is the case today, traders may want to anticipate a second rise in risk appetite as traders move to higher yielding currencies.

Current Time: 05/27 04:42 GMT

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