Archive for January, 2009
Yen to Rise Further Due to Government Insufficiency
Posted on30. Jan, 2009 by admin.
The Japanese Yen may rise further through the end of the country’s fiscal year on March 31, as exporters buy the currency to hedge revenues, and money managers bring funds home amid the global slump. Analysts forecast that the market should expect even further Yen appreciation as the Japanese fiscal year comes to a close, [...]
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Strengthening USD Puts Downward Pressure on the Yen
Posted on29. Jan, 2009 by admin.
The USD/JPY was driven higher today on the Fed’s comments and an increase in risk appetite. Fueling the appreciation of the Dollar was a rise in the Dow Jones Industrial Average. When U.S. equity markets rise, this pair tends to rise as well. Also fueling an increased risk appetite was the passage of Barack Obama’s [...]
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Yen Slides on Stock Market Rallies
Posted on27. Jan, 2009 by admin.
The Yen slid yesterday against the EUR and Pound, as global stock markets recorded impressive gains. This was sparked by Britain’s Barclays Bank reporting that it didn’t need to raise additional capital, as it is expected to release better-than-expected quarterly profits. This led to a considerable rise in British, European, and Asian stock markets, whilst [...]
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Japanese Yen Rallies on Economic Data and Risk Aversion
Posted on23. Jan, 2009 by admin.
The Yen continued its rally yesterday against the EUR and USD, as poor economic data from the U.S. and the Euro-Zone exemplified the down-ridden global economy, fueling trader’s risk-aversion. The Yen has seen large gains as traders pour into the Yen, fleeing higher-yielding currencies. Its important to note that Japanese banks have not been hit [...]
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The JPY Posts New Record Highs against Major Currencies
Posted on22. Jan, 2009 by admin.
The Japanese currency rallied broadly on Thursday toward a 13-year peak against the Dollar and a near 7-year high versus the EUR amid growing investor anxiety about global banking woes. The JPY rose to 88.80 against the USD after rebounding from Wednesday’s low of 87.09. Against the EUR, the Yen climbed 1% to 115.27. Traders [...]
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JPY is Boosted by British Banking Woes
Posted on20. Jan, 2009 by admin.
The Yen rose against the EUR and GBP as the Euro-Zone economy weakens, and the British banking crisis deepens. Britain’s second largest bank, the Royal Bank of Scotland’s posted a 28 billion Pounds loss, the biggest ever of any British company. This in turn sparked fears that the British government will have to take over [...]
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Yen Sinks from Increased Risk Appetite
Posted on19. Jan, 2009 by admin.
The JPY posted continuous losses against the majority of its currency counterparts throughout the final days of last week’s trading. Many analysts are claiming that President-elect Barack Obama’s recent plan for using bailout funds to shore up mortgage foreclosures has investors looking to take on more risk. As this risk appetite increases, traders are borrowing [...]
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JPY Value Relatively Flat Recently
Posted on15. Jan, 2009 by admin.
The Yen completed yesterday’s trading session with mixed results versus the other major currencies. The JPY was predominantly influenced by the other major currencies’ behavior, however, as only one major indicator was published from the Japanese economy. It appears that this is often the case with the JPY as of late.
Core Japanese private-sector machinery orders [...]
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JPY Breaks Support Line
Posted on13. Jan, 2009 by admin.
As risk aversion heads higher, so does the value of the Yen. Yesterday the JPY strengthened across the board and dropped below a significant support line. At one point in yesterday’s trading the USD/JPY fell to a low of 88.86 before ending the day at 89.27. The large price swing may be attributed to low [...]
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Japanese Yen Finds Support from Weakening Euro
Posted on12. Jan, 2009 by admin.
The Yen once again finds itself strengthening from a loss of confidence in other global currencies. With the lowest Interest Rate yield in the global market, the JPY is often used to fund the purchase of other, higher yielding currencies. However, with last week’s poor economic news from Europe and the United States, these positions [...]
