Archive for November, 2008
Japanese Recession May be Worse than Forecasted
Posted on28. Nov, 2008 by admin.
Yesterday, traders did not see much volatility in JPY currency pairs. With no economic news from the US as a result of the Thanksgiving holiday, and very few economic indicators from Europe, the JPY remained flat against both the USD and EUR, sticking near the 95.00 and 123.00 levels respectively.
The recent economic data from Japan [...]
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Yen Experiences Mixed Results against Major World Currencies
Posted on27. Nov, 2008 by admin.
The JPY finished yesterday’s trading session with mixed results versus the major world currencies. The JPY fell against the GBP, pushing the GBP/JPY level to 146.67. The Japanese Yen experienced similar behavior against the USD as the USD/JPY closed at 95.16. The JPY saw steady bullishness throughout yesterday’s trading against the EUR, as EUR/JPY pair [...]
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Japanese Yen Strengthening from Global Economic Weakness
Posted on26. Nov, 2008 by admin.
The JPY is currently experiencing appreciation across the boards. This bullish momentum is explained by most analysts as a result of unwinding carry trades. As the global economy weakens further, especially with signs such as the U.S. economy injecting another $800 billion into markets, major economies the world over are cutting interest rates and weakening [...]
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JPY Reacts Positively to Citigroup Bailout Plan
Posted on25. Nov, 2008 by admin.
The Japanese currency added to recent gains as investors continued to sell-off risky assets in response to the U.S. government bailout plan for Citigroup did little to convince the market that the end of the financial crisis is near. In the short-term the JPY continued to increase against the USD as Japan’s Equities and Commodities [...]
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Bank of Japan’s Interest Rate Cut Proves Successful
Posted on24. Nov, 2008 by admin.
The past week has proven successful for the Bank of Japan’s (BoJ) recent decision to cut Interest Rates to 0.30%. The JPY’s intensive bullish trend was halted and the JPY is currently trading at the 95.00 level against the USD and at the 120.00 level against the EUR.
The Japanese economic outlook seemed quite disturbing last [...]
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JPY Records Further Advances against the Major Currencies
Posted on21. Nov, 2008 by admin.
Recently, the JPY rallied against the USD and the EUR on speculation that slides in global stocks will prompt investors to sell higher-yielding assets and pay back loans in Japan. The Yen also advanced versus the New Zealand dollar and against the British pound, as U.S. lawmakers held off taking action on a bailout requested [...]
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JPY Strengthened by Unwinding Carry Trades
Posted on20. Nov, 2008 by admin.
The Japanese currency recovered lost terrain in the last two days and rallied against the USD and EUR as continuing uncertainty over the U.S. government’s response to the financial crisis continues favoring the Yen by lowering the value of JPY-funded carry trades.
The low Japanese interest rate helped hold the value of the JPY lower than [...]
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Japan Enters Recession for the First Time Since 2001
Posted on19. Nov, 2008 by admin.
Japan’s economy, the world’s second largest, slipped into recession for the first time since 2001 as companies cut back spending. Japan’s recession could last even longer than feared and reflects an increasing effort by governments to provide a cushion against a global downturn.
What the market is seeing here doesn’t represent fundamental data, but a crutch. [...]
