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Japanese Yen Logs Small Gains

September 4, 2013 at 12:34 by Miranda Marquit

Japanese yen is logging small gains today, gaining a little ground as uncertainty puts safe haven assets in demand. However, a big move by the yen is unlikely, since there is enough news to keep the currency somewhat weak.

With the release of the Fed’s Beige Book expected to boost tapering expectations today, it is little surprise that the yen is showing some signs of weakening against the US dollar. However, the yen still has the upper hand and concerns about Syria take the forefront and add to risk aversion.

Yen has been relatively weak as economic stimulus plans continue, and as the weaker yen has had such great results for Japanese exports recently. Car and TV exports are on the rise, thanks to a weaker yen, and that means that Japanese officials have incentive to continue with their current policy of easing in the name of stimulus.

However, some strength continues to peek out for the yen, thanks in large part to the fact that there is still a great deal of uncertainty surrounding the situation in Syria.

At 12:32 GMT USD/JPY is lower, down to 99.4210 from the open at 99.5900. EUR/JPY is down to 130.9300 from the open at 131.1450. GBP/JPY is actually a little higher, up to 155.2050 from the open at 154.9150.

If you have any questions, comments, or opinions regarding the Japanese Yen, feel free to post them using the commentary form below.

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