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Japanese Yen to Pound Sterling (GBP/JPY) Exchange Rate: Yen falls as Japanese investors send funds overseas

Japanese Yen

The Japanese Yen has declined against all of its most traded peers after a report showed that Japanese investors sent funds into foreign bonds for a fourth consecutive week and as Asian shares climbed following the release of better-than-expected Chinese manufacturing data.

Against the Pound the Yen has weakened by 0.92% to trade at 149.810

According to Japan’s Tokyo based Ministry of Finance Japanese investors bought 233.2 billion Yen ($2.4 billion) in overseas bonds. As a result the Yen is close to hitting its biggest decline in a week against the US Dollar.

Also weighing upon the Yen was data released by the National Bureau of Statistics and China Federation of Logistics and Purchasing. The organisation said that the Managing Purchasing Managers Index for the world’s second biggest economy expanded by 50.3, up from June’s level of 50.1 and above economist expectations of a reading of 49.8. A reading above 50 indicates expansion.

“The Yen is being sold as stock gains boost risk appetite,” said Kumiko Gervaise, an analyst at Gaitame.com Research Institute Ltd. in Tokyo. “The net buying of foreign bonds by Japanese investors certainly doesn’t help the Yen either.”

TorFX

Current Japanese Yen (JPY) Exchange Rates

The US Dollar/Japanese Yen Exchange Rate is currently in the region of:  98.6483

The Pound Sterling/Japanese Yen Exchange Rate is currently in the region of: 149.5828

The Euro/Japanese Yen Exchange Rate is currently in the region of: 130.6603

The New Zealand Dollar/Japanese Yen Exchange Rate is currently in the region of: 78.5262

The Australian Dollar/Japanese Yen Exchange Rate is currently in the region of: 88.5171

(Correct as of 10:00 am GMT)

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