JPY Daily News

Yen Provides Mixed Results.

Japan's currency for the most part lost strength yesterday versus the major currencies. The JPY underwent falling trends against the USD and the EUR as investors buoyed carry trades versus the Asian currency.

Yesterday's local news from Japan did little to move the Asian currency, as we saw Japan's composite index of leading economic indicators fall 1.7 points to 91.2 in June. This indicator measures the volume of economic activity by aggregating the percentage changes in a selected series of data. Also yesterday the Japanese machine order figures fell 2.6%, the first fall in three months, giving even more stress to the idea that the world's second-largest economy is now slipping into a recession.
Today, the JPY will be absent from the economic calendar, traders should keep watching carefully for news arriving from the U.S and the Euro-zone, as they will be the main factors in the JPY progress for today.

Current Time: 05/27 04:47 GMT

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