This is an older news update for the Japanese yen. Click here to view the latest daily update.

Japanese yen daily update for 6th November 2017

BY DEB SHAW | 

Today has been an eventful day for the Japanese yen, at least based on recent history. The yen is stronger today, and was much stronger earlier this morning. Looking at USD/JPY, the pair managed to break above the critical 114.50 threshold following comments from Bank of Japan Governor Kuroda. The governor signalled that easy monetary policies are likely to continue given weak inflation. The pair has since fallen below 114.50 and is currenly trading just above 114.40. Looking at political news, Trump is currently visiting Japan as part of his broader Asian tour. He is expected to visit South Korea tomorrow.  

Looking at the euro vs. the yen, EUR/JPY is up slightly and is currently trading above 132.80. 

Looking at the economic calendar for the yen, this week’s announcements include survey data, cross-border investment figures and a speech from the Bank of the Japan’s governor. On Monday, Governor Kuroda suggested that easy monetary policies will continue. Nikkei Services (53.4) and Composite PMIs (53.4) for October were both higher relative to previous figures. On Tuesday we’ll get labor cash earnings and real cash earnings. On Wednesday, we’ll see the leading index and the coincident index. Finally on Thursday, we’ll see the Eco Watchers Survey, Machine Orders, cross-border stock and bond investments and bank lending. Last week, retail sales missed expectations.

Updated 
Outlook
Neutral

Subscribe to the MarketsNow Japanese yen daily update