JPY Daily News

Yen Remains Down As Japan Rebuilds

The Japanese yen remained bearish overall in overnight trading, as the Bank of Japan has signaled that it will keep its monetary policy on hold in light of efforts to rebuild the tsunami ravaged nation. Experts are warning that the full scope of the disaster is not yet known, and that the cost of rebuilding will likely be massive.

The USD/JPY remains close to its recent six month high, and is currently trading right around the 85.15 level. The EUR/JPY came off its recent 11-month high during the overnight session, but remains up overall. The pair is currently trading around the 121.80 level.

Today, the yen is unlikely to see any major gains, as the expected euro-zone interest rate hike is expected to drive investors to riskier currencies. Whether the euro will be able to exceed its recent 11-month high against the Japanese currency is yet to be seen, but analysts are warning that it may happen.

Current Time: 05/27 05:00 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
04/07
	01:00	JPY	BoJ Press Conference		*	*	*
	05:10	JPY	Monetary Policy Statement		*	*	*
	05:10	JPY	Overnight Call Rate		<0.10%	<0.10%	<0.10%
	00:50	JPY	Current Account		1.09T	1.33T	-