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Japanese Yen to Pound Sterling (JPY/GBP) Exchange Rate -Yen declines on falling safe haven demand

Japanese Yen
The Japanese Yen has weakened against the British Pound and all of its other most traded peers as demand for safe haven assets weakened after the Chinese Central Bank reassured the markets and data due later on Friday will show an improving US recovery.

Governor of the People’s Bank of China Zhou Xiaochuan pledged to maintain money-market stability after investors grew concerned over a possible crunch in the world’s second largest economy.

Continuing expectations of improvement to the US economy saw the Yen weaken against the US Dollar in Asian trading with the ‘Greenback’ jumping to a two-and-a-half week high.

Japanese economic data showed that the nation was making some progress towards stimulating the economy and fighting deflation but it also highlighted that the Bank of Japan will choose to keep its monetary policy in place despite the US Federal Reserve saying that it will begin to retract its own stimulus as the US economy recovers.

“Risk appetite is putting downward pressure on the Yen,” Niels Christensen, chief currency strategist at Nord Bank in Copenhagen told Bloomberg. “Fears about liquidity and growth in China have also receded a bit so the sentiment has been quite bullish in equities in the past two or three days.”

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The Yen may have weakened but data released Thursday night showed that the Japanese economy is slowly making improvements. Industrial production improved from -3.4% rising to -1.0%, large retailer sales jumped from -2.3% to -0.4%.

Current Japanese Yen (JPY) Exchange Rates

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The US Dollar/Japanese Yen Exchange Rate is currently in the region of: 99.0051 >

The Pound Sterling/Japanese Yen Exchange Rate is currently in the region of: 150.9470 >

The Euro/Japanese Yen Exchange Rate is currently in the region of: 129.2404 >

The New Zealand Dollar/Japanese Yen Exchange Rate is currently in the region of: 77.2370 >

(Correct as of 10:40 am GMT)

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