The Japanese yen is strengthening against several currencies on Thursday, despite plenty of weak data suggesting that the world’s third-largest economy could be cooling down. The yen might be gaining steam on two things: expectations that the central bank could follow the Federal Reserve’s lead and slash interest rates or breathe a sigh of relief that the US and China have renewed trade talks.
The Japanese yen was soft against all of its major peers today. While investors were still nervous ahead of the testimony of Federal Reserve Chairman Jerome Powell, giving them incentive to stick to safer currencies, domestic macroeconomic data was unfavorable to the yen.
For a while today, the Japanese yen was one of the strongest currencies on the Forex market, opening sharply higher against its rivals. But by now it has lost gains against all of its major peers despite the positive outlook for Japan’s economy. Domestic macroeconomic data was not especially good, though.
The Japanese yen was soft versus the majority of its most-traded peers today. Domestic macroeconomic data was mixed and Bank of Japan officials were sending somewhat confusing signals about monetary policy in the future.
The Japanese yen was trading either flat or slightly lower versus its most-trade rivals today as traders were cautious, waiting for the outcome of the meeting between the leaders of the United States and China at the Group of Twenty summit. There were plenty of macroeconomic reports released in Japan today. The Bank of Japan also released the Summary of Opinions at its latest monetary policy meeting.
The Japanese yen is strengthening on Tuesday after new economic indexes climbed in April. This comes soon after the central bank signaled that it is willing to ease monetary policy if the economy warrants stimulus. Investors should also get a glimpse into the upcoming US-Japan trade negotiations as officials will meet with American trade representatives.
The Japanese yen rose against the US dollar but fell versus most other currencies today following the monetary policy announcement from the Bank of Japan and the release of all industry activity data.
The Japanese yen was flat against most major currencies today, though fell versus the Swiss franc. The trading was somewhat directionless on Wednesday as traders were waiting for a monetary policy announcement from the Federal Reserve.
The Japanese yen gained today as risk appetite of investors was waning, making them more interested in buying safer currencies, like the yen. Domestic macroeconomic data was also supportive for the Japanese currency.
The Japanese yen is finding support midweek as investors are pouring into safe-haven assets amid the continuation of the US-China trade war. Despite traditional safe-haven assets, such as the yen and gold, surging throughout geopolitical tensions and market uncertainties, this investment play has not exactly panned out. With the trade spat escalating this month, are investors concerned that this is a battle that will linger into […]
