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Japan Selling Yen in Bid to Slow Gains

Posted by Scott Boyd at 8:49 am UTC, 09/15/2010

The Central Bank of Japan announced it would be selling yen and buying dollars in an attempt to slow the yen’s appreciation after hitting a 15-year high against the greenback. An appreciating yen hurts Japan’s exports as it makes products shipped from Japan more expensive for foreign markets.

Source: BBC News

Filed under: Forex Round Up, JPY

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May
24
Today’s Global
Market Events
8:30am
CAD
Corporate Profits q/q
9.0%
USD
Core Durable Goods Orders m/m
1.1% vs. -0.8%
USD
Unemployment Claims
372K vs. 370K
USD
Durable Goods Orders m/m
0.5% vs. -4.0%
9:00am
EUR
ECB President Draghi Speaks
EUR
Belgium NBB Business Climate
-10.6 vs. -10.7
10:30am
USD
FOMC Member Dudley Speaks
USD
Natural Gas Storage
77B vs. 61B
1:00pm
USD
FOMC Member Dudley Speaks
3:00pm
USD
Treasury Sec Geithner Speaks
7:30pm
JPY
Tokyo Core CPI y/y
-0.5% vs. -0.5%
JPY
National Core CPI y/y
0.1% vs. 0.2%