2 Jun 2014
JPY losing ground on Monday - BTMU
FXStreet (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ, notes the selling mood around the JPY at the beginning of the week.
Key Quotes
"The yen has weakened in the Asian trading session with USD/JPY rising back above the 102.00-level. Yen weakness has also helped the Japanese equity market to outperform overnight with the Nikkei 225 index rising by around 2%."
"Japanese equity market gains have also accelerated in the near-term after the Nikkei 225 index broke back above its 200-day moving average for the first time since early April. Global equity markets continue to strengthen in the near-term supported by improving investor risk sentiment as downside risks to global growth have eased. Major central banks commitment to maintain current loose monetary policy or even ease policy further still with the ECB likely to unveil a package of measures this week are helping to lower global yields creating a more supportive environment for global growth as the economic recovery strengthens."
Key Quotes
"The yen has weakened in the Asian trading session with USD/JPY rising back above the 102.00-level. Yen weakness has also helped the Japanese equity market to outperform overnight with the Nikkei 225 index rising by around 2%."
"Japanese equity market gains have also accelerated in the near-term after the Nikkei 225 index broke back above its 200-day moving average for the first time since early April. Global equity markets continue to strengthen in the near-term supported by improving investor risk sentiment as downside risks to global growth have eased. Major central banks commitment to maintain current loose monetary policy or even ease policy further still with the ECB likely to unveil a package of measures this week are helping to lower global yields creating a more supportive environment for global growth as the economic recovery strengthens."