The Japanese yen is gaining against its biggest currency competitors to kick off the trading week as the nation braces for details surrounding the government’s “boldest-ever” stimulus package. Japan’s economic situation had been bearish prior to the coronavirus pandemic, but the outbreak has negatively affected the world’s third-largest economy. With the Tokyo Olympic Games postponed until the end of July, it is unclear how Japan can avoid slipping into […]
The Japanese yen is accelerating against several currencies on Tuesday as the central bank announced that it plans to help stabilize financial markets that have been decimated by the coronavirus. With an already fragile economy on the brink of a recession, the Bank of Japan (BoJ) aims to offer liquidity to ensure Covid-19 does not do any more damage to a country that is scheduled to host the Olympic Games in Tokyo. The announcement was not enough […]
The Japanese yen is posting modest gains against multiple currency rivals on Thursday as investors appear to be ignoring equities while diving into the traditional safe-haven asset. The Wuhan coronavirus is reportedly worsening with deaths topping 100 and the number confirmed cases exceeding 7,000 in every region of China. Japanese officials are warning that the outbreak could significantly affect the world’s third-largest economy in the near-term, hurting the country’s attempts […]
Japanese yen is gaining ground today as risk aversion makes an appearance and low beta currencies are sought for their safe haven qualities. With concerns over the possibilities in Syria, and with equity losses, Forex traders are turning to safety.
Yen is weaker today following the announcement that Tokyo has been selected to host the 2020 Olympic Games. Many expect that this will lead to more government spending, as a great deal of infrastructure will be required for the games. With more spending on the horizon, and stimulus measures still underway, more yen weakness is expected.
The Great Britain pound fell today against the Japanese yen as the report showed that UK house prices declined this month, adding to signs that Britain’s economy is struggling. The problems of the United Kingdom reduced demand for the sterling as a haven from the European crisis. The currency still managed to advance versus the dollar.
UK pound is lower today, dropping to a one-month low against the euro and pulling back against the US dollar as the latest housing data disappoints. Pound is on the defensive in trading as the housing market in the United Kingdom continues to struggle, and as the economy languishes.
Central bank decisions are on the way this week, but that isn’t helping the UK pound much. Indeed, another dismal manufacturing report is dragging on the pound today. The UK recession seems to be deepening, and there is no way that the Olympics are going to be able turn things around.
UK pound is struggling against the US dollar today, thanks in large part to concerns about a deepening recession. Fears about a British recession have been mounting in recent weeks, even with the Olympics being hosted in London. Economic focus is on the data in the United Kingdom, and it is doubtful that the Olympic Games are going to be able to counter that.
