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JPY Daily News
Yen Takes Losses against Dollar and Sterling
The safe-haven yen lost some of its appeal yesterday as rumors began to circulate that the Fed may begin coming off its policy of quantitative easing in the near future. While no concrete plan has been announced, the mere mention of the idea caused the Japanese currency to tumble against several of its main rivals.
The USD/JPY, which had been trading below the 82.00 level earlier this week, received a significant boost yesterday and is now approaching 82.90. Meanwhile, the GBP/JPY has gone up over 80 pips in the last 24 hours and is currently trading around the 133.90 level.
Today, yen traders are advised to follow any announcements from the US regarding future moves on interest rates and quantitative easing. Even though a plan is not likely to be unveiled today, yesterday demonstrated how dramatic even the mention of a change in policy can be in the forex market.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 03/09 | ||||||||
| 23:50 | JPY |  Final GDP | q/q | -0.3% | -0.3% | -0.3% |  | |
| 23:50 | JPY | CGPI | y/y | 1.6% | 1.9% | 1.7% |  | |
| 23:50 | JPY | Final GDP Price Index | y/y | -1.6% | -1.6% | -1.6% | | |
