The Japanese yen was flat against the US dollar and gained on the euro after trade data from Japan had been released. Initially, the currency weakened against the greenback following the release but bounced later and is trading close to the opening level right now.
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
May 25th, 2015 at 16:17
May 22nd, 2015 at 12:19
The Japanese yen was stronger after a central bank’s policy meeting today as Japanese policy makers yet again decided to refrain from changing anything. The currency gained against the US dollar and the Great Britain pound, though it has trimmed gains versus the former as of now.
May 20th, 2015 at 10:49
Japanese yen is holding steady today, remaining mostly weak against its major counterparts. Thanks to a weak yen, GDP and company profits in Japan are showing improvement.
May 15th, 2015 at 12:56
The Japanese yen fell today as Japan’s producer prices dropped in April from a year ago, highlighting the problems that the central bank has in its battle with deflation. The currency trimmed its gains against some majors and actually gained against the euro but maintained losses versus the US dollar.
May 06th, 2015 at 10:22
Japanese yen is mostly lower today as traders await data. The currency has been gaining against the US dollar, but those gains are now a little bit limited, and things could be turning around for the USD/JPY pair.
April 28th, 2015 at 11:04
Fitch Ratings downgraded Japan’s sovereign credit rating yesterday. Despite the negative news, the Japanese yen is trying to rally against the US dollar today. Against other major currencies, like the euro and the Great Britain pound, the yen is weak.
April 27th, 2015 at 10:54
Japanese yen is trading mixed against its major counterparts today as Forex traders continue to process the Bank of Japan announcement from the end of last week. Yen is higher against European currencies, but lower against the US dollar.
April 14th, 2015 at 11:36
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.
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.