The Japanese yen was a powerhouse of the Forex market during the past week. While the currency paused its rally by the weekend, it still ended trading with huge gains against other most-traded currencies.
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 eased today from the multi-year highs reached yesterday. The currency weakened after comments of Finance Minister Taro Aso that suggested a possibility of an intervention. As of now, the yen is moving back up but remains below the opening level.
The Japanese yen remains a powerhouse on the Forex market, continuing to rise higher and higher. The currency was trading near the highest level since October 2014 versus the US dollar and close to the strongest rate since October 2013 against the Great Britain pound.
The Japanese yen remains one of the strongest currencies (if not the strongest) as risk aversion plagues the Forex market, increasing the attractiveness of the currency in its role of a safe haven.
The Japanese yen rallied against most other major currencies today. Analysts explained the rally by risk aversion that followed the drop of crude oil prices.
The Japanese yen was little changed today despite the sharp drop of industrial production that put the Bank of Japan under pressure to add even more stimulus for Japan’s struggling economy.
The Japanese yen was weaker today after the release of mixed economic data from Japan.
The Japanese yen fell a little today. The reason for the losses was the inflation report that disappointed economists. The drop was minor due to thin holiday trading.
The Japanese yen fell against its major rivals today after the Bank of Japan released the summary of opinions voiced on the last policy meeting.