Japanese Yen Continues to Deteriorate
Posted on 03. Apr, 2009 by admin in JPY Economic News, Japanese Yen, Japanese Yen Currency
The Japanese Yen has seen better days. Over the past week this island economy’s currency has consistently depreciated against the majors, losing considerably against the USD and EUR. The level of this depreciation does not appear to have any stops in the making. Japan has maintained a posture of weakening its currency to boost exports, but the added weight of an unwinding of JPY safe-haven trades may have pushed its value lower than anticipated.
The resultant free-fall in the value of the JPY has begun to shake the confidence which many investors had in the island economy and expectations are now sliding further into the red for the economy’s recovery. With little economic news being released by Japan, the end of this week’s trading will likely see a continuation of this falling trend in JPY crosses. Against the USD, the JPY could finally settle above the 100.00 Yen level today.
