Yen Exchange Rate News

The Pound Japanese Yen exchange rate rose by 0.2% today as UK service sector growth hit a 24-year high in April. The pairing is currently fluctuating around ¥ 155.67. Sterling benefited from the release of the latest UK services PMI for May today, which beat forecasts and rose from 61.0 to 62.9 last month. Tim Moore, economics director at IHS Markit, commented on the figure, highlighting the increasing chances of strong growth this quarter: ‘UK service providers reported the strongest rise in activity for nearly a...

The Pound Japanese Yen exchange rate fell by -0.2% today despite growing confidence in the UK economy after GDP data for March rose by 2.1%. The pairing is trading around ¥153.79 at the time of writing. Sterling benefited yesterday as the latest UK growth data highlighted that the nation’s economy had improved from the Government’s successful rollout of Covid-19 vaccines. However, the UK economy struggled in the first quarter of this year, falling by 1.5%. UK Chancellor Rishi Sunak was however confident about March’s...

Despite the Pound tumbling against most major currencies today, the British Pound to Japanese Yen (GBP/JPY) exchange rate continued to climb. While the pair has struggled to hold its best levels, investors are selling safe haven currencies like the Japanese Yen due to coronavirus developments and this is making it easier for the pair to avoid losses. Following last week’s solid GBP/JPY advance from 141.43 to 143.23, GBP/JPY is continuing to advance this week. GBP/JPY briefly dipped on Monday, but since then has been advancing...

The Pound Australian Dollar (GBP/AUD) held steady today as ‘Aussie’ traders have been buoyed with a risk-on attitude ahead of tomorrow’s G20 summit in Japan. This came following comments from the US Treasury Secretary, Steven Mnuchin, who said yesterday: ‘We were about 90% of the way there [with a deal] and I think there’s a path to complete this.’ As China is Australia’s closest trading partner, optimism over a US-China trade deal has encouraged traders to invest in the risk-correlated ‘Aussie’. Doubts...

The Japanese Yen has seen mixed demand in recent weeks as risk-sentiment rises and safe haven currencies weaken. Despite this though, the British Pound to Japanese Yen (GBP/JPY) exchange rate has been weakening due to Brexit jitters. While GBP/JPY recovered from last week’s low of 145.89, the pair still slipped from 147.55 to 147.04 throughout the week. On Monday, GBP/JPY slumped once again due to Brexit jitters and trended near the level of 146.23 at the time of writing. Demand for the Pound was limited on Monday morning, despite...

Thanks to fading fears that a ‘no-deal Brexit’ is likely, as well as higher market appeal for taking risks, the British Pound to Japanese Yen (GBP/JPY) exchange rate has continued to rally this week so far. The Pound could be in for even further gains later in the week if there are notable Brexit developments. Last week saw GBP/JPY make a significant jump from 143.41 to 146.42, and this week has already seen the pair gain yet another Yen. At the time of writing on Tuesday afternoon, GBP/JPY was trending near a two month high of...

Hopes for a more optimistic Brexit outlook briefly cause a surge in demand for the British Pound to Japanese Yen (GBP/JPY) exchange rate last week. However, due to fresh uncertainties and another market rush for ‘safe haven’ currencies, GBP/JPY has already shed last week’s gains. Last week saw GBP/JPY open at the level of 142.84, and the pair climbed for most of the week. On Thursday, GBP/JPY briefly touched on a 3-week-high of 145.61, but ultimately ended the week nearer 143/84. This week so far GBP/JPY has continued to slide...

Mixed risk-sentiment and UK economic data have caused fluctuations in the British Pound to Japanese Yen (GBP/JPY) exchange rate in recent weeks, but as trade jitters worsen and Britain’s economic outlook becomes murkier there could be losses ahead. Last week saw GBP/JPY fluctuating broadly. The pair opened the week at 146.80 and closed at 146.95, but throughout the week fluctuated between lows of 146.31 and highs of 146.94. When markets opened on Monday, GBP/JPY tumbled and hit its lowest level in over two weeks – 146.20. Demand...

The EUR/USD exchange rate rallied hard during the European session of Tuesday as markets reacted to the Eurozone’s latest GDP figures. <h2>Euro (EUR) Bolstered by Upbeat GDP Figures</h2> The Euro made strong gains in early trading this morning as the Eurozone publishes its preliminary GDP reading for the fourth quarter. According to data published by European statistics agency, Eurostat, the Eurozone economy expanded by a healthy 0.6% in the last three months of 2017. While this was down from an upwardly revised...

Forecast-Beating Eurozone Confidence Growth Increases Euro to US Dollar Demand The Euro has risen by 0.4% against the US Dollar today, following the release of data that shows growing economic confidence across the Eurozone. Initial ZEW economic sentiment figures have shown higher-than-forecast confidence index readings for Germany and the Eurozone. The German data was particularly supportive, given that politically speaking, Germany remains in limbo due to ongoing coalition talks. More recently, a Eurozone-wide consumer...