Market Overview

Japanese Yen Hit by Weak Economic Data


The Japanese economy has underperformed once again as Japan's leading index fell to 96.4 in April from 100.1 in March. Most analysts were expecting the index to fall to 96.5. As a result, the Japanese yen suffered losses in the Tuesday trading. The euro rose 0.694% to ¥117.56, while the dollar added 0.249% to its value to stand around ¥80.31.

The Japanese economy is struggling to shake off the effects of the earthquake and tsunami disaster that struck Fukushima. To add to investors' worries, the political situation remains unstable as the current prime minister recently announced he will leave his post early.

Bad economic results and political uncertainties might continue to eat into the value of the yen. Traders who believe in this scenario will be interested in the ProShares UltraShort Yen ETF (NYSE: YCS) and the ETFS Short Japanese Yen Long US Dollar ETC ETF (SJPY).

Other traders might believe the government reconstruction program in the Fukushima area will provide a boost to the country's economy and its currency. These traders will be more interested in the CurrencyShares Japanese Yen Trust ETF (NYSE: FXY) and the WisdomTree Dreyfus Japanese Yen Fund (NYSE: JYF).

Posted-In: News Forex Economics Markets ETFs Best of Benzinga


Related Articles (FXY + JYF)

View Comments and Join the Discussion!
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

Forex - Yen off 1-month high vs. dollar after Japan fin min warning

FOREX: All Eyes on Bernanke as Fed Rhetoric Turns Dollar-Supportive