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Japanese Yen Falls Slightly
The Japanese Yen lost 0.0187 points or 0.17% to 107.773 against the US Dollar on Tuesday. Investor sentiment was shaken as at least 30 new coronavirus infections were confirmed in Tokyo, marking the highest daily increase of infections since May 14 and prompting fears of a second wave of contagion. In addition, recent government data showed that pretax profits of domestic companies surveyed by the Finance Ministry plunged 32.0 percent to 15.14 trillion yen ($140 billion) from a year earlier, the sharpest drop since July-September period of 2009.
Published on 2020-06-02

Japanese Yen Gains
The Japanese Yen added 0.21 points or 0.19% to 107.562 against the US Dollar on Monday. The US Dollar was broadly offered as U.S. President Donald Trump’s vow of meaningful action to strip Hong Kong of its special trade privileges proved underwhelming, stopping short of further sanctions or trade restrictions. On the data front, the au Jibun Bank Japan Manufacturing PMI was at 38.4 in May 2020, in line with the flash figure and after a final 41.9 in April, posting the fourth straight month of contraction in the sector and the steepest since March 2009. Meantime, Japanese companies raised spending on plant and equipment by 4.3 percent year-on-year in the first quarter of 2020, after a 3.5 percent cut in the previous period.
Published on 2020-06-01

Japanese Yen Falls
The Japanese Yen lost 0.395 points or 0.36% to 107.206 against the US Dollar on Friday, trading 0.38% lower for the week, ahead of United States President Donald Trump’s announcement in response to China’s new security legislation for Hong Kong later today. On the data front, the unemployment rate in Japan edged up to 2.6 percent in April 2020 compared to 2.5 percent in the prior month, posting the highest jobless rate since December of 2017. Industrial production in Japan declined by a preliminary 9.1 percent month-on-month in April 2020, the steepest drop in industrial output since March of 2011. On an annualized basis, industrial output plunged 14.4 percent in April, the seventh straight month of decline. Finally, Japan's retail trade tumbled 13.7 percent from a year earlier in April 2020 after a 4.7 decline in the prior month, falling for the sixth time in seven months.
Published on 2020-05-29

Japanese Yen Weakens
The Japanese Yen lost 0.153 points or 0.14% to 107.861 against the US Dollar on Thursday. US Investor sentiment was boosted over tensions with China regarding new security legislation for Hong Kong, after United States Secretary of State Mike Pompeo advised the US Congress that the Trump administration no longer regards Hong Kong as autonomous from mainland China.
Published on 2020-05-28

Japanese Yen Little Changed
The Japanese Yen was little changed at 107.493 against the US Dollar on Wednesday. Tensions between the United States and China escalated, with the US considering a range of sanctions to punish China in response to new security legislation for Hong Kong. Meantime, Reuters reported that Japan will roll out another $1.1 trillion stimulus package that includes financing help for struggling companies, subsidies to help firms pay rent and several trillion yen for health care assistance and support for local economies. Despite these measures, Analysts still predict gross domestic product shrinking by more than 20% this quarter and say the recovery could be slow as exports, tourism and business investment struggle to rebound.
Published on 2020-05-27

Japanese Yen Appreciates
The Japanese yen traded at 107.49 a dollar on Wednesday at around 03:45 AM GMT, following an earlier 107.61, after Reuters reported that Japan will roll out a fresh stimulus package worth $1.1 trillion that will include a sizable amount of direct spending to mitigate the economic blow from the COVID-19 pandemic. The stimulus, which will be funded partly by a second extra budget, will be on top of a $1.1 trillion package already launched last month, bringing the total amount of JPY 234 trillion, roughly 40% of Japan's GDP.
Published on 2020-05-27

Japanese Yen Weakens
The Japanese Yen lost 0.163 points or 0.16% to 107.843 against the US Dollar on Tuesday after Japan's all industry activity index tumbled by 3.8 percent month-over-month in March 2020, after a revised 0.7 percent fall in February, posting the second contraction in all industrial activity and the steepest since last October. Meantime, Bank of Japan Governor Haruhiko Kuroda said the central bank may take more steps to ease the economic impact from the coronavirus pandemic. "The BOJ can further expand lending schemes, cut interest rates and ramp up purchases of exchange-traded funds. It can even come up with something new if necessary.” The governor added that once the health crisis is contained, Japan's economy can resume a solid recovery path.
Published on 2020-05-26

Japanese Yen Strengthens
The Japanese yen traded at 107.84 a dollar on Tuesday at around 03:15 AM GMT, following an earlier 107.92, after Bank of Japan Governor Haruhiko Kuroda said on Tuesday the central bank was ready to do whatever it can to ease monetary policy further, including expanding its loan programs, lowering interest rates and ramping up risky asset purchases as the economy continued to fight against the COVID-19 outbreak. The governor added that once the health crisis is contained, Japan's economy can resume a solid recovery path. Prime Minister Shinzo Abe on Monday fully lifted a state of emergency in Hokkaido and the Tokyo metropolitan area, claiming success in checking virus infections.
Published on 2020-05-26

Japanese Yen Weakens on Trade Tensions
The Japanese Yen lost 0.092 points or 0.08% to 107.692 against the US Dollar on Monday. Investors sought ‘safe-haven’ in the US Dollar after news of China’s proposed national security legislation for Hong Kong. The security legislation could see Chinese intelligence agencies set up bases in Hong Kong and aims to tackle secession, subversion and terrorist activities, drawing a warning from President Donald Trump that Washington would react "very strongly" if that happened. Meanwhile, the Nikkei newspaper reported that the government is considering fresh stimulus worth 100 JPY trillion ($930 billion), mostly comprising financial aid for companies. The package, to be funded by a second supplementary budget, would follow a record JPY 117 trillion spending plan deployed last month. .
Published on 2020-05-25

Japanese Yen Appreciates
The Japanese yen traded at 107.69 a dollar on Monday at around 03:30 AM GMT, following an earlier 107.77, after news that the Japanese government will completely lift the state of emergency over the COVID-19 pandemic today, before it expires on May 31. Reuters reported that Prime Minister Shinzo Abe will hold a news conference today at 09:00 GMT, followed by a government task force meeting. The lifting of the state of emergency takes effect after the meeting. Meanwhile, the Nikkei newspaper reported that the government is considering fresh stimulus worth 100 JPY trillion ($930 billion), mostly comprising financial aid for companies. The package, to be funded by a second supplementary budget, would follow a record JPY 117 trillion spending plan deployed last month.
Published on 2020-05-25

Japanese Yen Strengthens
The Japanese Yen added 0.22 points or 0.21% to 107.383 against the US Dollar on Friday after the Bank of Japan during an emergency meeting rolled out a new lending program worth JPY 30 trillion yen ($279 billion) to support small businesses struggling with the fallout from the coronavirus pandemic. Policymakers also left the short-term interest rate unchanged at -0.1%, maintaining to buy ETFs and J-REITs so that their amounts outstanding will rise at an annual pace of JPY 12 trillion and about JPY 180 billion, respectively.
Published on 2020-05-22

Japanese Yen Strengthens
The Japanese yen traded at 107.55 a dollar on Friday at around 03:30 AM GMT following an earlier of 107.76 after the Bank of Japan rolled out a new lending program worth JPY 30 trillion yen ($279 billion) during an emergency meeting on May 22nd to support small businesses struggling with the fallout from the COVID-19 pandemic but left its policy interest rates and asset purchases unchanged. Meantime, Japan finance minister Taro Aso welcomed the central bank's new lending scheme, adding that the country was not in a state of financial crisis.
Published on 2020-05-22

Japanese Yen Weakens
The Japanese Yen lost 0.291 points or 0.27% to 107.793 against the US Dollar on Thursday. Investor sentiment was pessimistic as after the au Jibun Bank Japan Composite PMI rose to 27.4 in May 2020 from a record low of 25.8 in April, a preliminary reading showed. The services sector rose compared to the previous month (25.3 vs 21.5) while manufacturing contracted further (38.4 vs 41.9), posting the steepest contraction since March 2009.
Published on 2020-05-21

Japanese Yen Appreciates
The Japanese yen traded at 107.61 a dollar on Thursday at around 03:45 AM GMT, following an earlier 107.75, after Reuters quoting Economy Minister Yasutoshi Nishimura reported that Japan will lift state of emergency in Osaka, Kyoto and Hyogo today as the number of COVID-10 infections fell. Meantime, Tokyo and four other prefectures, including the northern island of Hokkaido, would remain under the state of emergency. So far, the western prefectures of Kyoto, Osaka, and Hyogo are averaging at 0.09 infections per 100,000 people, in contrast with 0.59 for Tokyo and surrounding areas.
Published on 2020-05-21

Japanese Yen Weakens Slightly
The Japanese Yen lost 0.067 points or 0.06% to 107.752 against the US Dollar on Wednesday as the Bank of Japan announced an emergency policy meeting on Friday to set up a reward scheme for financial institutions hit by the coronavirus pandemic. BOJ plans to finance loans that commercial banks extend to small businesses via funds tapped from government lending programmes. On the data front, Core machinery orders in Japan, which exclude those for ships and from electric power companies, decreased 0.4 percent month-over-month in March 2020, soundly beating market consensus of a 7.1 percent fall and following a 2.3 percent rise.
Published on 2020-05-20

Japanese Yen Hits 1-Month Low
The Japanese Yen touched a four-week low of 108.05 against the US Dollar on Tuesday, as investors turned to riskier currencies after American Bio-tech company Moderna’s said its experimental vaccine to treat COVID-19 posted encouraging results from its early stage trial. On the data front, Japan's industrial output contraction was confirmed to be the steepest since October last year in March, as the coronavirus crisis deepened.
Published on 2020-05-19

Japanese Yen Falls Slightly
The Japanese Yen lost 0.14 points or 0.13% to 107.443 against the US Dollar on Tuesday. US Investor sentiment was boosted as American Bio-tech company Moderna’s coronavirus vaccine posted encouraging results from its early stage trial. On the data front, industrial production in Japan declined by 3.7 percent month-on-month in March 2020, extending losses after a 0.3 percent fall in the previous month. The reading indicated the steepest drop in industrial output since October last year.
Published on 2020-05-19

Japanese Yen Weakens Slightly
The Japanese Yen lost 0.091 points or 0.09% against the US Dollar on Monday. Japanese GDP shrank an annualized 3.4 percent in the January-March quarter compared with the previous quarter. Yuichi Kodama, chief economist at Meiji Yasuda Research Institute said “It’s near certainty the economy suffered an even deeper decline in the current quarter. Japan has entered a full-blown recession.”
Published on 2020-05-18

Japanese Yen Trades Slightly Higher
The Japanese Yen has added 0.099 points or 0.09% to 107.123 against the US Dollar on Friday. Tokyo Governor Yuriko Koike told a news conference that the Japanese government is aiming to outline a reopening roadmap as early as next week. Meantime, investors welcomed further promises of global stimulus after U.S. President Donald Trump said on Thursday he would be open to negotiating another possible stimulus bill, while China’s Finance Minister Liu Kun acknowledged a need for more active fiscal policy as pressure on its economy increases.
Published on 2020-05-15

Japanese Yen Strengthens
The Japanese Yen has gained 0.156 points or 0.14% to 106.865 against the US Dollar on Thursday. Investor sentiment for the ‘safe-haven’ asset was buoyed after United States Federal Reserve Chairman Jerome Powell warned of extended economic weakness, pledging further stimulus to shore up the American economy damaged by the coronavirus pandemic. Powell also dashed hopes of negative interest rates in a video conference with the Peterson Institute for International Economics, saying that "the committee's view on negative rates has not changed. This is not something we're looking at."
Published on 2020-05-14