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 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 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.
The Japanese yen climbed today after the final revision of Japan’s gross domestic product confirmed growth of the nation’s economy.
Japanese economic data came in better than expected, and that is providing a boost for the yen against its major counterparts. Yen is heading higher on the better than expected reports coming out of Japan.
The Japanese yen fell today amid falling retail sales and the investor’s improving sentiment that was triggered by the rise of stock indexes.
The performance of Japanese yen was fairly decent today even though inflation data released from Japan was rather poor.
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.