- 21 February 2012
EUR gains on JPY amid increase in risk taking
The yen took significant losses against the euro yesterday, following positive euro-zone news which led to investors abandoning safe-haven assets. At the same time, the USD/JPY hit resistance just below the 80.00 level, which was followed by a slight downward correction. The pair spent much of the day hovering around the 79.45 level.
- 17 February 2012
Yen takes losses following US news
Positive US news caused the safe-haven yen to take significant losses during trading yesterday. The better than expected US Unemployment Claims and Philly Fed Manufacturing Index led to investor risk taking throughout the evening session. The USD/JPY hit a 3 ½ month high before hitting significant resistance close to the 79.00 level. The EUR/JPY also saw gains as a result of the US news, despite the Greek debt crisis that continues to impact the common currency. The pair shot up some 50 pips after Unemployment Claims figure was released.
- 15 February 2012
BOJ actions cause yen to drop
The Bank of Japan (BOJ) surprised many investors yesterday, after it announced that it was increasing its asset-buying program by 10 trillion yen. The move caused the yen to tumble throughout the day. The BOJ has often moved in to weaken the value of the yen in order to boost Japan's export driven economy. As a result of the move, the USD/JPY shot up close to 100 pips throughout the European session. Meanwhile, the EUR/JPY, despite falling the previous night, was able to rebound and cross the 103.00 level.
- 20 February 2012
BOJ measures continue to weaken yen
Last week's announcement that the BOJ will increase its asset buying plan by $130 billion continued to weaken the Japanese yen during Friday's trading session. Against the dollar, the yen closed out the week at 79.55, its highest level since last October. Losses were also taken against the euro on Friday, as optimism regarding the prospects of a Greek bailout deal resulted in investors moving away from safe-haven currencies like the yen.
- 16 February 2012
JPY moves up on EUR following greek news
The EUR/JPY spiked as high as 103.50 during European trading yesterday, following a pledge by China to continue buying euro-zone debt. The pair was not able to maintain its upward momentum, and tumbled well over 100 pips after it was announced that there may be delays in Greece receiving it's much needed bailout package.
- 10 February 2012
Yen remains bearish in high volatility day
The Japanese yen had a largely bearish day yesterday, after positive European and US news led to an increase in risk taking and boosted higher yielding assets. The EUR/JPY moved up close to 100 pips by the evening session and approached the 103.00 level. The USD/JPY spent a good part of the day floating close to the 77.35 level, up close to 30 pips during the European session.