- 17 May 2012
EUR/JPY drops to 3-month low
The possible effects of a Greek exit from the euro-zone sent the common currency to fresh lows against several of its main rivals during trading yesterday. In addition to the EUR/USD, which hit a four-month low, the EUR/JPY dropped to its lowest level in three-months. The pair dropped to 101.89 at the beginning of the European session before staging a mild correction and stabilizing at 102.40. The euro had better luck against the British pound, following a warning from the Bank of England Governor that the euro-zone crisis could impact growth in the UK. The EUR/GBP advanced close to 60 pips, reaching as high as 0.8006 during the afternoon session.
- 15 May 2012
Risk aversion boosts yen
The Japanese yen maintained its upward momentum vs. the euro and US dollar in trading yesterday as investors flocked to safe-haven assets amid political instability in the euro-zone. The EUR/JPY fell close to 100 pips during European trading, reaching as low as 102.20. After slight upward movement during the overnight session, the USD/JPY once again turned bearish, dropping 50 pips before stabilizing around the 79.70 level.
- 27 April 2012
BOJ monetary policy statement set to impact yen
The Japanese yen saw gains against both the US dollar and euro yesterday ahead of today's Bank of Japan Monetary Policy Statement and Overnight Call Rate. The USD/JPY dropped close to 60 pips during the European session yesterday, reaching as low as 80.80. Against the euro, the JPY gained close to 100 pips. The EUR/JPY fell as low as 106.87.
- 17 May 2012
JPY sees mild losses vs. USD
The USD/JPY advanced close to 30 pips during European trading yesterday, reaching as high as 80.54. The dollar was able to benefit from better than expected news out of the US, which placed the currency well above the psychologically significant 80.00 level. The yen also took losses against the Australian dollar. The AUD/JPY was up over 80 pips during mid-day trading, reaching as high as 80.15 before staging a slight downward correction.
- 30 April 2012
BOJ monetary easing does little to damage yen strength
The Bank of Japan's long expected new round of monetary easing resulted in temporary losses for the yen in overnight trading on Friday. That being said, the JPY bounced back throughout the European session as risk aversion led to gains for safe-haven currencies. In addition to gains vs. the USD and euro, the yen also moved up against currencies like the Australian dollar and Swiss franc. The AUD/JPY dropped close to 90 pips in early morning trading, reaching as low as 83.54 before staging an upward correction. The pair eventually closed out the week at 84.04. Beginning in overnight trading, the CHF/JPY dropped around 85 pips to close out the week at 88.51.
- 24 April 2012
Yen sees gains across the board
The yen turned bullish against its main currency rivals yesterday, as poor euro-zone news resulted in gains for safe-haven currencies. In addition to the major gains see against the euro, the JPY was also up close to 70 pips against the US dollar and over 150 pips against the British pound. Analysts attributed the yen's bullish trend to a worse than expected news out of both France and Germany, the euro-zone's two biggest economies, as well as political uncertainty following the first round of French presidential elections held this past Sunday.