Currency Note Worldwide

Good day for Japanese yen, bad day for Japanese economy

By Michael Cooper May 24th, 2016

The Japanese yen was yesterday’s winner, gaining 0.5% against sterling. However, each time we see the yen improve, the Japanese economy moves in the other direction. Over the last seven months the yen has strengthened, and in this time shipments and imports have all fallen, leaving a trade deficit of $7.5 billion over the last year (the highest since March 2010). There are no major releases out now until Friday, when the year-on-year Consumer Price Index (CPI) data is released, which is expected to show further deflation.

Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.