JPY Daily News

Yen's Fate may be Tied to USD; Bad News Ahead?

The Japanese Yen has taken a heavy toll against all of its currency rivals over the previous few trading days. The market shows the Yen near the 100.00 mark against the USD and the 132.60 mark against the EUR, an ominous signal for the island currency. As Japan's economy continues to shrink, and as investors flee from traditional safe-havens in light of the outbreak of swine flu internationally, the JPY may be taking the worst beating of all. Many wonder how long this negative turn can last for Japan's currency.

With the US set to release data on its recent bank stress test the bad news for the Dollar which many expect may take some of the downward pressure off of the Japanese Yen, but even this is doubtful. With hardly any economic news coming out this week, the JPY may be tied to the fate of the US Dollar. If the greenback indeed depreciates in the days ahead this could signal a tidal shift away from common safe-havens and a reinvestment into less traditional banking systems, such as those in Europe recently. Whatever the outcome, many traders appear ready to sell the JPY this week.

Current Time: 05/27 05:46 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
05/04
		JPY	Japanese Bank Holiday		*	*	*