The Japanese yen rose today despite a signal from the nation’s central bank that it may ease its already extremely accommodative monetary policy as soon as at October’s meeting. The currency likely got support from the market sentiment that was favorable to safe currencies.
The Canadian dollar versus the Japanese yen currency pair corrected sharply and, as a consequence, some might already think of shorting it. But is it the pair really ready to give the bears a new go?
Macroeconomic data released in Japan on Thursday was better than expected. But as usual, the Japanese yen paid more attention to the general market sentiment than to domestic reports. And the sentiment was not supportive of the Japanese currency. Currently, though, the yen managed to bounce against some of its rivals.
The Japanese yen is mixed midweek as new data is sending signals that the nation’s manufacturing sector is weakening. With uncertainty engulfing the global economy and Japan potentially facing a recession, the Bank of Japan (BOJ) is being pushed to be more accommodative by easing monetary policy. Prime Minister Shinzo Abe assured financial markets that Japan will not be a drag on the rest of the world, suggesting that he […]
The US dollar versus the Japanese yen currency pair is still continuing the appreciation that began at the 105.00 psychological level. The question is: considering the determined way in which it advances, will the price simply pierce the strong resistance area at 108.00?
The Japanese yen opened above Friday’s close today, though by now the currency has retreated against most of its major rivals. Today’s macroeconomic data in Japan showed that economic growth slowed last quarter while other indicators missed expectations.
The Japanese yen gained against most major currencies on Friday. That is despite comments of the central bank’s chief and risk appetite on markets, which limited appeal of safe currencies.
The Japanese yen is weakening midweek as new economic data is exacerbating recession fears. With some central bankers suggesting pre-emptive stimulus to prevent a contraction, investors are paying attention and think the world’s third-largest economy is heading for a steep contraction, even with a new trade agreement with the US later this month
The Japanese yen performed opposite to riskier currencies today, falling intraday but rebounding later. Whether it is due to US tariffs on Chinese goods kicking in or light volumes on markets due to holiday in the United States resulting in sharp and unpredictable swings, it looks like most currencies reversed their movement in the second half of the Monday’s session.
The US dollar versus the Japanese yen currency pair is consolidating after confirming the 105.50 support level. Given the strong retracement, expectations are for an extension towards the 108.00 psychological level.
