The Japanese yen declined against the US dollar and the euro today as economic data released from Japan over the current trading session was detrimental to the currency. The yen may yet bounce with the help of waning trader’s optimism.
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
Yen is higher against other major currencies today as safe haven demand continues to drive Forex traders. With the uncertainty right now, yen is preferred for its stability and safety.
The year has started with the risk aversion theme that should have been helping the currencies that are traditionally considered to be safe, like the Japanese yen and the Swiss franc. And while the franc is struggling, the yen did indeed was rising.
The Japanese yen gained today, rising more than 1 percent against the US dollar, even though the nation’s central bank made changes to its asset-purchase program. The changes were not that significant, though, explaining why the currency reacted positively to the news.
Japanese yen continues to gain ground today, thanks in part to the positive GDP data released earlier this week. Without expectations of further Bank of Japan cuts, the yen is doing well against its major counterparts.
The Japanese yen was mixed today, falling against the US dollar but rising against some other major rivals, like the euro. The divergent performance could be explained by the varying economic reports released today.
The Japanese yen rallied against the euro but fell against some other majors, including the US dollar, today. The currency received some support from risk aversion caused by tensions between Turkey and Russia. Minutes of the Japan’s central bank released today left mixed feelings among analysts.
The Japanese yen leaped against the US dollar and gained versus other most-traded currencies today (though it was unable to beat the euro) as the Bank of Japan refrained from expanding monetary stimulus. The central bank remained passive even after the nation’s economy has entered technical recession.
The Japanese yen opened sharply higher due to risk aversion caused by terrorist attacks in France. Yet the currency pared back gains after data released on Monday showed that Japan’s economy slipped into recession.
The Japanese yen pared its earlier losses against other majors, including the US dollar and the Great Britain pound, today. Economic data released over the Friday’s session from Japan was good but did little to help the currency.