JPY Daily News

Yen Out-Performs Other Currencies

The Yen has out-performed all of its competitors in recent days. Regaining most of the strength lost in the previous few weeks, the JPY has now fought back to some of the highs not seen in months. Climbing to 94.80 versus the USD, a level not seen since mid-March, the Yen actually appears to have regained its safe-haven status. It also climbed to the 127.30 level against the EUR, a range not seen since late-April.

This week also appears to be an exciting news week for the JPY, a statement not often made by economic analysts in the forex market. With 2 large indicators due to be published, the Yen may actually be a driving force in this week's market. On Tuesday, the Japanese Cabinet Office will release its preliminary GDP figures which are expected to show that the Japanese economy may have shrunk by 4.2% in the first quarter of 2009. Also due this week is a decision by the Bank of Japan (BoJ) on its short-term interest rates. As rates are still near 0%, a reduction seems unlikely. The information released by the BoJ, however, may give traders and indication of the future monetary policy decision to come.

Current Time: 05/27 04:46 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
05/18
	06:00	JPY	Household Confidence		28.9	32.1	32.4