The Japanese yen rallied today, touching the highest level since June 2013 against the euro. The reason for the rally is the retreat of the US stocks and the comments from Koichi Hamada, an adviser to Prime Minister Shinzo Abe on monetary policy.
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
April 14th, 2015 at 11:36
April 13th, 2015 at 14:39
The Japanese yen rallied against its other major peers today, including the US dollar and the euro, after the positive economic data from Japan and optimistic remarks from the central bank’s head.
April 10th, 2015 at 12:52
Japanese yen is retaining many of the gains it made earlier this week following a Bank of Japan announcement that indicates the asset buying program is likely to remain steady, rather than expand. With quantitative in place for European currencies, Japan has the upper hand for now.
April 08th, 2015 at 9:21
The Japanese yen rallied against the US dollar today after the Bank of Japan conducted its April policy meeting. The currency was unable to beat its other rivals.
March 30th, 2015 at 12:37
Japan’s industrial production declined last month, resulting in a drop of the Japanese yen during the current trading session. The yen fell against the US dollar and even against the euro, though it fared better versus other currencies.
March 20th, 2015 at 13:50
The Japanese yen dropped today against its rivals as the market sentiment was improving. While the dollar traded sideways, other currencies rallied at the expense of the yen.
March 19th, 2015 at 10:37
Japanese yen is gaining ground today, heading higher against European currencies following the latest export report, and ahead of the release of the Bank of Japan minutes from the latest meeting.
March 17th, 2015 at 11:40
The Japanese yen gained after the Bank of Japan kept its monetary policy unchanged at today’s meeting, judging that no additional monetary stimulus is required.
March 13th, 2015 at 15:13
The Japanese yen followed the US dollar in a rally ahead of next week’s monetary policy meeting of the Federal Reserve. The yen demonstrated gains against most other major currencies, with the obvious exception of the dollar against which the Japanese currency was flat.
March 09th, 2015 at 22:49
The Japanese yen dropped today as it followed the US dollar in reversing Friday’s gains. Economic data from Japan was another reason for the currency to fall as indicators disappointed economists.