October 19, 2012
The Japanese yen got mixed reviews yesterday as it did better than the British pound, got outpaced by the Greenback, and ended in a stalemate against the euro. USD/JPY ended the day at 79.26 while EUR/JPY closed at 103.61.
Japan didn't release any economic figures yesterday, leaving the yen at the mercy of risk sentiment and reports from other major economies. In its scuffle against the safe-haven Greenback, the yen was at a losing end as strong U.S. data gave the dollar an additional boost.
Today, Japan is set to release its all industries activity index at 4:30 am GMT. Although this report isn't expected to have a huge impact on yen price action, it'd help to keep tabs on the actual results as these could give us a good picture of how the Japanese economy is faring.
Also, don't forget that BOJ Governor Shirakawa is set to testify at 6:35 am GMT today. Do you think we'll hear more verbal jawboning this time around? Can't hurt to be extra careful around that time!
"The only cable I watch is the pound baby."