{"id":12784,"date":"2010-09-08T08:47:51","date_gmt":"2010-09-08T12:47:51","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=12784"},"modified":"2010-09-08T08:47:51","modified_gmt":"2010-09-08T12:47:51","slug":"yen-jumps-to-a-15-year-high-vs-the-dollar","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/09\/08\/yen-jumps-to-a-15-year-high-vs-the-dollar\/","title":{"rendered":"Yen Jumps to a 15-year High vs. the Dollar"},"content":{"rendered":"<p><strong>By Rita Ruvinski <\/strong>&#8211; The USD\/JPY cross fell to a fresh low of 83.34 as risk-averse  investors piled into the \u201csafe-haven\u201d currency Wednesday pushing it to a  new 15-year high against the greenback. The  dollar also slid on speculation the Federal Reserve\u2019s Beige Book  business survey will add to evidence the U.S. economic recovery is  stalling.<\/p>\n<p>There are lingering worries the U.S. economic recovery may be tepid,  analysts said, and that has a negative effect on the dollar. The yen is  being bought, partly because Japan has a Current Account surplus (the  difference between a nation\u2019s exports of goods, services and transfers,  and its imports). Japan\u2019s surplus expanded 26% from a year earlier to  1.68 trillion yen ($20 billion), the Ministry of Finance said,  surpassing the 1.53 trillion yen surplus forecast by economists.<\/p>\n<p>Gains in the yen were tempered, however, after Japan\u2019s Finance  Minister said he is prepared to take bold steps on currencies if  necessary. But there was still skepticism among market players as to  whether intervention would actually happen. Japan has not intervened in  the currency market since March 2004, after spending 35 trillion yen  ($420 billion) over a 15-month period to support an economic recovery.<\/p>\n<p>Since the euro looks unstable again, and the dollar might weaken  further ahead of the mid-term election, it leaves the Japanese yen as  the only currency to buy. And especially after the Bank of Japan\u2019s (BOJ)  governor made only vague comments about the yen, the USD\/JPY should  face a further weakness with 83.3 and 83.05 targets in sight.<\/p>\n<p><em><strong>Forex <\/strong><strong>Market Analysis provided by <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">ForexYard.<\/a><\/strong><\/em><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                                                            may not be       suitable     for     all            investors.       There    is  a                          possibility           that             you    could            sustain a    loss       of  all     of       your                       investment and                  therefore  you              should     not          invest          money    that     you                cannot        afford to             lose.  You             should     be         aware     of        all       the       risks               associated      with          Foreign           Exchange             trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Rita Ruvinski &#8211; The USD\/JPY cross fell to a fresh low of 83.34 as risk-averse investors piled into the \u201csafe-haven\u201d currency Wednesday pushing it to a new 15-year high against the greenback. The dollar also slid on speculation the Federal Reserve\u2019s Beige Book business survey will add to evidence the U.S. economic recovery is &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/09\/08\/yen-jumps-to-a-15-year-high-vs-the-dollar\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Yen Jumps to a 15-year High vs. the Dollar&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-12784","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/12784","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=12784"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/12784\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=12784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=12784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=12784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}