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JPY Daily News
Yen Pares Gains as Traders Turn Westward from Europe
After climbing towards important psychological barriers against a number of currencies, the JPY apparently failed to breach on all fronts and is now positioned to lose strength against all of its currency counterparts. Hitting the 95.00 price level against the USD, the pair has now entered an uptrend as the Yen loses out to the Dollar's recent surge. Against the EUR and GBP traders can see very similar behavior to that of the USD/JPY with a strong uptrend for the JPY followed now by a small, corrective down-tick.
With little news affecting the island currency today, there is a chance that this turn of events was brought on by the relative safety of other assets. With confidence declining across Europe, but gaining strength in the US, measurements of risk aversion and risk appetite appear muted and confused. The aversion to risk throughout the Euro-Zone may have pushed investors into safe-havens, but the strength of the greenback pulled most investors westward to the States instead of Japan. With a number of important manufacturing and inflationary figures being released at the end of Thursday's session, we may yet see a growth in volatility for the JPY. Traders stay tuned to your calendars today!
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 06/25 | ||||||||
| 00:30 | JPY |  Tokyo Core CPI | y/y | -0.7% | -1.0% | -1.3% |  | |
| 00:30 | JPY | National Core CPI | y/y | -0.1% | -1.1% | -1.1% |  | |
| 00:50 | JPY | All Industries Activity | m/m | -2.4% | 2.3% | - | | |
