Getting the best exchange rate can be achieved by understanding what is driving rates and the service of a specialist currency broker. Below are movements in the past 30 days affecting Japanese Yen rates when buying £200,000:

Currency Pair% ChangeDifference on £200,000

In the early hours of this morning we saw the Japanese Yen fall more than 20 cents against GBP after China boasted much stronger Industrial Production figures than expected, surging to 7.6% and beating expectations by 1.1 percentage points.

Demand for the Japanese Yen

Connection Between China And The Japanese Yen

As many of our daily readers may know the Japanese Yen is classed as a safe haven currency, one which investors tend to purchase and hold during periods of global uncertainty due to Japan's political and financial stability.

Now if China’s economic data is seen to be strong it bodes well for other major economies as China depends heavily on the global demand for the production of goods. Therefore, if the market perceives the Chinese economy as strong it increases the appetite of investors for riskier currencies and thus weakens the demand for safe haven currencies such as the Japanese Yen, allowing GBP/JPY to strengthen.

Thursday’s Data Pivotal For The Japanese Yen

Thursday this week is the day to watch for those with a Japanese Yen transfer requirement. At 1:50am we see the release of year on year Import and Export figures for June, both of which are forecast to see a significant decline from 17.8% to 14.6 and 14.9% to 9.5% respectively. A matter of hours later at 4:00am we see the release of the Bank of Japan’s (BoJ) interest rate decision alongside their subsequent monetary policy statement. Whilst a heavy read the Bank of Japan’s outlook report, released semi-annually, also gives investors an insight into the views of policy board members.

With some of the most influential economic data and policy decisions being published outside of trading hours for Japan on Thursday morning, if you have a Yen transfer requirement it may be prudent to contact your account manager here at Foreign Currency Direct in advance to learn how a limit order may help you to take advantage of any market volatility that occurs.

For more information on how future data releases could affect your currency requirement, call our trading floor on 01494 725 353.


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Exchange rates on this page are interbank rates and indicate where the market is trading to show the performance of a currency pair. They are not indicative of the rates which we offer. The information on this web site is provided free of charge for information purposes only. It does not constitute advice to any person on any matter. Foreign Currency Direct plc. ("FCD") makes every reasonable effort to ensure that this information is accurate and complete but assumes no responsibility for and gives no warranty with regard to the same.