The Japanese yen sank today, reaching the lowest level since 2009 against the euro and the weakest rate since 2008 versus the Great Britain pound. The market sentiment was mildly positive, making the currency unnecessary in its role of a safe asset.
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 27th, 2013 at 22:50
November 27th, 2013 at 0:21
The Japanese yen rose against the US dollar yesterday, maintaining its gains today, and was little changed against the euro and the Great Britain pound after the Bank of Japan released its monetary policy minutes.
November 25th, 2013 at 9:43
The Japanese yen fell today as deal was reached about the Iranian nuclear program, allowing the Middle Eastern country to enrich uranium for peaceful purposes.
November 20th, 2013 at 14:47
Japanese yen is heading higher today, gaining against its major counterparts as the latest trade news and industry activity data are released. It looks as though Japan’s economy is picking up steam, and that is providing some support to the yen.
November 15th, 2013 at 8:59
The Japanese yen continue to demonstrated weakness today as economic growth slowed, while speculations about prolongation of monetary stimulus from the US Federal Reserve damped demand for safer currencies.
November 14th, 2013 at 14:50
The latest comments from Japanese Finance Minister Taro Aso are leading to losses for the Japanese yen. Aso indicated that Japanese policymakers remain poised to intervene in the markets in their attempts to keep the yen weak. Additionally, optimism that the United States will continue with its stimulus program is prompting risk appetite.
November 12th, 2013 at 14:44
Japanese yen is maintaining its weakness right now, underperforming by many standards. The yen is down against its major counterparts, and this state of affairs is unlikely to change, with Japanese officials preferring a weak yen to a strong one.
November 05th, 2013 at 3:12
Economists were speculating that the measures implemented by the Bank of Japan will not be enough to reach the target inflation of 2 percent, but such talks did not deter the Japanese yen from extending yesterday’s advance today.
October 31st, 2013 at 20:19
The Japanese yen jumped today after the central bank maintained its extremely accommodative monetary policy, but boosted growth forecasts and signaled that inflation may reach the target next year.
October 30th, 2013 at 13:31
Japanese yen is heading lower today, weakening across the board as the latest economic data comes in. Concerns that yen policymakers will need to continue to work to keep the yen weaker are on the rise right now as the latest data indicates the possibility of an economic slowdown, as well as concerns about what is next for the US economy.