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JPY Daily News
Yen Tumbles as Risk Taking Returns to Marketplace
The yen took dramatic losses yesterday against many of its counterparts as investor confidence in the global economic recovery boosted riskier assets. The GBP/JPY moved up some 100 pips throughout the day, and is currently trading around 129.95. Against the euro, the Japanese currency was able to recoup some of its earlier losses in overnight trading. The EUR/JPY has fallen about 50 pips in the last few hours, and is currently trading around the 107.60 level.
Today, should positive market news continues to be released, the yen will likely see further losses. Traders will want to pay attention to the ECB press conference, as well as the US Unemployment Claims and Pending Home Sales figures. At the same time, these events could very well disappoint, in which case a return to risk aversion may occur in afternoon trading. In that case, the safe haven yen could see a fairly profitable day.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 09/02 | ||||||||
| 00:50 | JPY |  Capital Spending | -11.5% | -6.6% | - |  | ||
