Archive for February, 2009
Yen Climbs as U.S. Bank Bailout Produces Pessimism
Posted on11. Feb, 2009 by admin.
The JPY rose against its major currency crosses in Tuesday’s trading, as traders flocked back to the safe-haven Japanese currency. This came about as stocks in the U.S. and Japan fell heavily following statements by U.S. Treasury Secretary Timothy Geithner concerning the new $2 trillion U.S. banking bailout plan. Traders reacted with pessimism as they [...]
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Traders May Look for Further Weakening in the JPY
Posted on10. Feb, 2009 by admin.
The JPY gained against its currency pairs on news that Russian banks may seek to restructure loans to their European counterparts. This puts more pressure on the already struggling European banking sector. Japan is not without its own banking troubles considering Japan’s largest investment bank and brokerage, Nomura, will seek new capital upwards of $3 [...]
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Japanese Yen May Weaken as U.S. Markets Rebound from Stimulus
Posted on09. Feb, 2009 by admin.
The Japanese Yen has seen some signs of a small reversal against last week’s downtrend against the USD. Ending trading on Friday at 91.81 against the Dollar, the JPY now trades near the 91.60 price level. With such poor employment data emanating from the U.S. on Friday, most investors were speculating that the U.S. government [...]
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JPY May Rise to 80 against the Dollar by Mid-Year
Posted on05. Feb, 2009 by admin.
The Japanese currency picked up steam again on Wednesday, prompted by a government stimulus package that has provided a boost to market and risk sentiment. The Yen’s strength took the EUR down 0.7% to 115.52 Yen, while the Dollar eased 0.2% to 89.05 Yen. It strengthened to 87.13 on Jan. 21, the strongest level since [...]
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Weaker Yen inspires Japanese Stock Market Rally
Posted on04. Feb, 2009 by admin.
Investors dropped the JPY yesterday, initially inspired by the U.S. stock market rally and the pushed further by better-than-expected home resale figures from the U.S. Japan’s stock market also rallied, as car makers, such as Honda and Toyota, made large gains. Other industries, such as shipping, made big gains as well.
The USD/JPY rate remained unchanged [...]
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Japanese Yen Maintains Holding Pattern
Posted on02. Feb, 2009 by admin.
The Japanese Yen continues to trade in a limited range of prices as its economy remains largely on track to continue its recession. As the Japanese economy weakened in recent months, the JPY was pushed higher as a result of Japan’s monetary and fiscal policies which intentionally held the Yen at an artificially low level [...]
