13 May 2014
JPY remains on the soft side - BTMU
FXStreet (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ, observes the Japanese yen continues to lose ground.
Key Quotes
"The yen has continued to weaken modestly in the Asian trading session reflecting the gradual ongoing improvement in global investor risk sentiment which has resulted in the S&P500 index closing at record high overnight. The ongoing improvement in global investor risk sentiment is being supported by the strengthening economic growth outlook in the advanced economies with the US economy rebounding strongly after the sharp slowdown in Q1, and the economic recovery in Europe continuing to gain upward momentum."
"Investor concerns over the weakening growth outlook in emerging markets have also eased in the near-term. Emerging market currencies such as the Colombian peso, Turkish lira, Brazilian real, and South African rand have been amongst the best performing global currencies so far during Q2."
Key Quotes
"The yen has continued to weaken modestly in the Asian trading session reflecting the gradual ongoing improvement in global investor risk sentiment which has resulted in the S&P500 index closing at record high overnight. The ongoing improvement in global investor risk sentiment is being supported by the strengthening economic growth outlook in the advanced economies with the US economy rebounding strongly after the sharp slowdown in Q1, and the economic recovery in Europe continuing to gain upward momentum."
"Investor concerns over the weakening growth outlook in emerging markets have also eased in the near-term. Emerging market currencies such as the Colombian peso, Turkish lira, Brazilian real, and South African rand have been amongst the best performing global currencies so far during Q2."