The performance of Japanese yen was fairly decent today even though inflation data released from Japan was rather poor.
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 rallied today as traders were cautious due to the prospects for monetary tightening from the Federal Reserve but not willing to buy the US dollar.
Japanese yen is easing today, trading mixed against its major counterparts following yesterday’s gains. There are still questions about what’s next for Japan, and there is always the possibility that officials will intervene to weaken the yen.
The Japanese yen climbed against its major peers today even though macroeconomic data from Japan was mixed, failing to provide a direction for the currency.
The Japanese yen traded lower today as the threat of an intervention continues to loom over the currency, discouraging traders from buying it.
Japan’s economy emerged from a recession, growing in the first three months of 2016. Yet this did not translate into a rally of the Japanese yen.
The Japanese yen was among losers on the Forex market today, failing to capitalize on poor economic data released from China over the weekend.
The Japanese yen was soft today as the Bank of Japan continued to send signals about possibility of additional monetary easing.
Japanese yen is mostly lower today, thanks in large part to the fact that an intervention from the government could be a possibility. Yen is lower against its major counterparts today.