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JPY Daily News
Yen Takes Heavy Losses against EUR amid Increased Risk Taking
The EUR/JPY pair shot up yesterday, following an increase in risk taking after positive euro-zone news was released. In addition to a significant drop against the euro, the JPY also turned bearish against other riskier assets like the Australian and New Zealand dollars. At the same time, the JPY was able to maintain recent gains against fellow safe-haven currencies like the US dollar.
Turning to today, yen values will likely be determined by the results of a batch of euro-zone news. While the euro-zone recovery is still very fragile, traders seem to be taking every opportunity to shift their assets toward higher yielding currencies, often at the expense of the yen. Should today's news reinforce the notion that the euro-zone is on its way to recovery, the yen may resume its bearish movement as a result.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 01/24 | ||||||||
| 03:31 | JPY |  Monetary Policy Statement | * | * | * |  | ||
| 03:31 | JPY | Overnight Call Rate | 0.10% | 0.10% | 0.10% | | ||
| 23:50 | JPY | Trade Balance | 0.54T | 0.36T | -0.57T |  | ||
