JPY Daily News

Yen Rises to a 10-Year High against the Euro

The Japanese yen strengthened against most of its major currency-rivals last week as the decreasing risk-appetite in the market has boosted the yen's appeal as a safe-haven investment.

The yen's most notable uptrend took place versus the euro, as the EUR/JPY cross plunged into a 10-year low after hitting the 101.92 level. The yen rallied against the euro on concerns that Greece is on the verge of bankruptcy. Investors fear that if Europe will be unable to avoid Greece's default, the outcome will eventually be the teardown of the euro-zone.

Looking ahead to today, traders are advised to follow the ongoing news from Europe. It currently seems that as long as the European leadership is reluctant to solve the debt crisis, the demand for the Japanese currency as safe-haven will continue to grow.

Current Time: 05/27 05:09 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
09/26
	00:50	JPY	CSPI	y/y	-0.5%	-0.4%	-0.4%