The Japanese yen traded near the opening level against the US dollar after touching the lowest rate since October 2008 earlier today. The currency is losing ground versus the euro following yesterday’s massive gains.
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
September 05th, 2014 at 12:25
September 04th, 2014 at 14:05
The Japanese yen recovered a bit after earlier losses today after the Bank of Japan announced no changes to its monetary policy. While the currency remained soft versus the US dollar, it pared losses against some other majors.
September 04th, 2014 at 1:15
The Japanese yen weakened today against other most-traded currencies at the early Asian session ahead of the Bank of Japan monetary policy announcement. For now, losses are not big and are not enough to erase yesterday’s gains.
September 03rd, 2014 at 10:42
Japanese yen is mostly lower today, following the release of the latest services PMI data. Additionally, expected changes to the government’s investment fund are expected in the coming weeks, and that is also having an impact.
August 29th, 2014 at 1:23
The Japanese yen attempted to extend its rally against the US dollar today but failed and retreated close to the opening level. The currency traded mostly sideways against other major counterparts.
August 26th, 2014 at 13:12
The Japanese yen gained today with help of the general risk-negative market sentiment and good economic data from Japan itself. The currency gained for a second consecutive session against the US dollar and for a third session versus the euro.
August 25th, 2014 at 13:13
The Japanese yen profited from the risk-negative market sentiment, rising against its major counterparts. The currency opened sharply lower versus the US dollar but was able to slowly rise, though it still trades below the Friday’s close.
August 15th, 2014 at 14:49
Japanese yen is lower today, falling against most major currencies. Data from the United States and Europe isn’t dire enough to support the yen, and there are plenty of reasons for continued yen weakness at this point.
August 07th, 2014 at 14:10
Japanese yen is mostly lower again, following a brief surge earlier. Thanks to a temporary demand for safe haven assets, as well as stop-loss order executions earlier, the yen saw a brief surge. Now, though, the yen is settling down, and is mostly lower.
July 30th, 2014 at 19:26
The Japanese yen weakened today, touching the lowest level since April against the US dollar, as economic data from both the United States and the eurozone was mostly good, making the currency unnecessary in its role of a safe haven.