Risk aversion continues to be a theme in the markets today, and the Japanese yen is moving higher as a result. Even with the latest mixed data out of Japan, the yen is heading higher against its counterparts as stocks struggle and as concerns about the eurozone once again come to the fore.
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
July 11th, 2014 at 13:54
July 03rd, 2014 at 13:24
The Great Britain pound fell against the US dollar today after the gauge of the services sector fell more than was expected. The sterling is still trading near the highest level since 2008 and was able to maintain its gains versus the Japanese yen.
July 01st, 2014 at 11:04
The Japanese yen tumbled today, reaching the lowest level since January against the Great Britain pound, as the Tankan survey showed a worsening sentiment in both manufacturing and non-manufacturing sectors.
June 30th, 2014 at 11:30
The Japanese yen halted its rally today and actually fell against some of its major peers as economic reports were not favorable to the currency. Today’s drop followed Friday’s big rally, meaning that part of today’s losses may be attributed to profit-taking.
June 26th, 2014 at 20:08
The Japanese yen advanced today, rising versus the US dollar and the euro, and trading little changed versus the Great Britain pound. The Japanese currency profited from worries created by worse-than-expected macroeconomic data from the United States.
June 25th, 2014 at 13:53
Japanese yen is higher today, gaining ground against its major counterparts, following the release of May CSPI data. With concerns about what might be next on a global scale, there is a bit of an interest in safe haven. On top of that, with signs that the Japanese economy is recovering, there are some thoughts that the Bank of Japan won’t need to keep the yen weak.
June 16th, 2014 at 10:37
The Japanese yen advanced today as concerns about escalating tensions and the threat of a war in Iraq increased demand for safer assets among investors. The yen, being one of such assets, profited as a result.
June 13th, 2014 at 11:32
The Japanese yen dropped today even as the Bank of Japan refrained from expanding its already significant stimulus program at today’s policy meeting. Japanese policy makers were concerned that actions of the European Central Bank will make the yen appreciate against the euro, and this would not be welcomed by the BoJ officials who were striving to weaken the Japanese currency.
June 12th, 2014 at 3:21
The Japanese yen rallied yesterday on speculations that the Bank of Japan will refrain from changing its monetary policy at this week’s meeting. While the currency retreated a bit today, it remains relatively strong.
June 11th, 2014 at 14:16
Japanese yen continues to maintain much of its earlier strength today, heading higher against many of its major counterparts. Yen is gaining as a better outlook contributes to the idea that more easing will not be necessary for the Japanese economy.