The Japanese yen traded mostly below the opening level against most major currencies, though there were few exceptions. Economic data released from Japan today was mixed, but the most important GDP report was poor, weakening the currency.
The yen is the official currency of Japan. It was introduced in 1871 and allowed to freely float at 1973. The yen is the third major reserve currency after the dollar and the euro. The yen is considered a safe currency; therefore it is sought by traders in times of uncertainty and instability. Low interest rates in Japan (near zero), combined with high liquidity of the currency, make the yen used in the practice called carry trade.
Japanese Yen News Archive
The Japanese yen fell against the US dollar and the Great Britain pound today following yesterday’s big jump.
Japanese yen is gaining ground today, heading higher against most of its major counterparts. The latest expectations for stimulus have changed, and that means that the yen is benefitting from the idea that actual stimulus won’t involve as much as originally expected.
Japanese yen is heading lower today, thanks in large part to expectations for future stimulus. Risk appetite is on the rise today and that is having its impact on low beta currencies like the yen. However, the yen also has the added pressure related to the expectation that Shinzo Abe will be able to continue his stimulus measures.
The Japanese yen dropped today as the landslide victory of the ruling coalition gave Prime Minister Shinzo Abe to take bolder steps for reviving economic growth.
The Japanese yen rallied today despite unfavorable macroeconomic data and warnings from Japan’s officials about possible interventions in order to stem the currency’s rally.
The Japanese yen rallied today, reaching fresh multi-year highs against the US dollar and the Great Britain pound, as fears of the Brexit and its impact on the world economy made investors seek safer options.
The Japanese yen opened sharply higher against such major rivals as the US dollar and the euro, fell back to the Friday’s close but returned to trade near the opening as of now. The yen’s performance against the Great Britain pound was a totally different matter as the Japanese currency continued to move higher after the initial opening.
The Japanese yen rallied to multi-year highs against its major peers after the Bank of Japan made no changes to its monetary policy.
The Japanese yen gained today, rising to the multi-year high against the euro, as the market sentiment was not favorable to risky assets, driving investors to the safety of Japan’s currency instead.