The Japanese yen traded a little lower against the US dollar and the euro after the release of mixed data from Japan at the start of the current trading session. The currency is still under pressure from prospects for additional monetary stimulus but at the same time is supported by need for safety among investors.
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
November 13th, 2014 at 1:02
November 12th, 2014 at 4:41
The Japanese yen was rising during the Asian trading session today, though the currency retreated closer to the opening level as of now. The rally was triggered by comments from members of the central bank about potential timing for dropping monetary stimulus.
November 05th, 2014 at 6:23
The Japanese yen fell against almost all major currencies as comments of the central bank’s chief resulted in speculations that monetary easing will remain in place for a long time and additional monetary stimulus is possible.
October 31st, 2014 at 10:57
In a surprise move, the Bank of Japan announced a new round of easing. Earlier, the yen had been gaining in spite of unfavorable data. Now, though, the yen is heading much lower in the wake of this latest announcement.
October 31st, 2014 at 0:15
The Japanese yen gained today even though economic data that came out from Japan during the current trading session was not particularly good. The possible reason for the rally is risk aversion that followed the policy announcement from the Federal Reserve.
October 27th, 2014 at 10:48
Japanese yen is heading higher against its major counterparts today, getting help from the latest economic data. With an improvement in data, there is the thought that maybe the Japanese government won’t be quite so aggressive at pursuing weakness for the yen.
October 13th, 2014 at 21:18
The Japanese yen rose today against the US dollar and the Great Britain pound, which were demonstrating softness at the current trading session. But the Japanese currency was unable to outperform the euro, which is now trying to gain ground after it has halted its long decline.
October 08th, 2014 at 11:34
The Japanese yen declined today despite the prevailing risk-aversion on the Forex market after the International Monetary Fund lowered its growth forecast for the world economy.
October 07th, 2014 at 12:38
The Japanese yen edged higher after the Bank of Japan concluded its two-day policy meeting today. As was expected, the central bank did not add stimulating measures to its already extremely accommodative monetary policy.
September 26th, 2014 at 10:41
Japanese yen is lower against its major counterparts following the release of the latest inflation data. The Japanese economy continues to struggle, and that means that policymakers are likely to continue to pursue a course that includes keeping the yen weak.