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JPY Daily News
Yen Trades Near 15-Year High against the Dollar
The Japanese yen continued to strengthen against all the major currencies during yesterday's trading session. The yen's rally against the dollar has now taken it near a 15-year high, and the pair is trading around the 82.30 level. The yen's rally also included around a 100 pip gain vs. the euro and British pound.
It appears that investors are betting that despite Japan's desire to devalue the national currency in order aid its export industry, the international criticism following its last intervention will prevent the Japanese government from acting again. In addition, the Japanese Finance Minister Yoshihiko Noda said yesterday that last month's intervention was not intended to signal a long-term campaign to target a specific level. This has added to speculation that the BoJ will not step in again, giving further bullish pressure to the JPY.
As for today, no significant economic releases are expected from the Japanese economy. Traders are advised to follow the major economic publications from the U.S. and euro-zone, especially the Non-Farm Payrolls release, as heavy market volatility is expected.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 10/08 | ||||||||
| 06:00 | JPY |  Economy Watchers Sentiment | 45.1 | 44.8 | 41.2 |  | ||
