JPY Daily News

Yen Sees Mixed Results

The Yen's volatility continued during last week's trading session. On one hand, the Yen appreciated against the Euro, and the EUR/JPY pair dropped to the 127.50 level. However on the other hand, the Yen slid against the Dollar to a 1-month low, as the USD/JPY pair rose to the 90.89 level.

The most significant publication from the Japanese economy last week was the Overnight Call Rate, which is of course the Japanese Interest Rates announcement. The Bank of Japan (BoJ) decided to leave interest rates at their current levels of 0.10%. This kept Japan with the lowest interest rates in the industrial world. The BoJ continues with its approach to weaken the Yen in order to support Japanese industry and by that a recovery in the economy. Its main tool is the low interest rates, and it seems that the BoJ is succeeding in its target to weaken the Yen. The Yen's rising trend against the Euro was mainly due to the weak Euro, which weakens on all fronts lately.

As for this week, several interesting economic publications are expected from Japan. The Manufacturing Index on Wednesday, the Household Spending on Thursday, and the Tokyo Core Consumer Price Index on Thursday. Traders are advised to follow these indicators in order to determine the Yen's trend for this week.

Current Time: 02/13 22:25 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
12/21
	04:37	JPY	All Industries Activity	m/m	-0.6%	1.1%	1.2%
	05:00	JPY	BoJ Monthly Report		*	*	*