Highlights of the latest Market Research release on JPY.
Full research available here.
The Japanese currency traded in a mixed environment during the period ended February 17. On overall, the vast part of the period was spent above the baseline, even though at the end of it the Yen lost its advantage and declined sharply to close the week with a negative growth of 0.43%. Moreover, there has been a mixed situation in its pairs with other currencies on the market. While the Japanese Yen managed to advanced considerably against the Swiss Franc by 1.11%, it dropped notably versus the New Zealand Dollar and Canadian Dollar, by 1.59% and 1.53%, correspondingly. Except JPY/EUR (-0.65%), other JPY pairs have barely exceeded the range of 0.50% in either direction.
The period was associated with extremely low volatility values for almost the whole length of the February 11-17 time period. The only exception has been made on Thursday, in time when a lot of important statistical indicators from around the world were announced. As a result, the elevated volatility index for the Japanese Yen stayed as low as at 11%, meaning that only slightly more than 1/10 of all time this currency used to have increased turbulence on the market. Among currency pairs, the highest elevated volatility was registered by the Dollar/Yen and Pound/Yen crosses, as both US and Britain revealed a lot of important indicators last week.
Taking into account significance levels of JPY, calculated as an average correlations between all currency pairs of the Yen, this currency was not one of the main drivers last week. The average correlation levels stood at 0.56 points during the week while for the vast part of the period the currency fluctuated around this mark and registered no constant development. At the same time, levels of JPYs significance stayed, as usually, at relatively high levels, while last weeks mean correlation coefficient for this currency at 0.53 points has slightly exceeded 20-day average of 0.5.
Full research available here.
The Japanese currency traded in a mixed environment during the period ended February 17. On overall, the vast part of the period was spent above the baseline, even though at the end of it the Yen lost its advantage and declined sharply to close the week with a negative growth of 0.43%. Moreover, there has been a mixed situation in its pairs with other currencies on the market. While the Japanese Yen managed to advanced considerably against the Swiss Franc by 1.11%, it dropped notably versus the New Zealand Dollar and Canadian Dollar, by 1.59% and 1.53%, correspondingly. Except JPY/EUR (-0.65%), other JPY pairs have barely exceeded the range of 0.50% in either direction.
The period was associated with extremely low volatility values for almost the whole length of the February 11-17 time period. The only exception has been made on Thursday, in time when a lot of important statistical indicators from around the world were announced. As a result, the elevated volatility index for the Japanese Yen stayed as low as at 11%, meaning that only slightly more than 1/10 of all time this currency used to have increased turbulence on the market. Among currency pairs, the highest elevated volatility was registered by the Dollar/Yen and Pound/Yen crosses, as both US and Britain revealed a lot of important indicators last week.
Taking into account significance levels of JPY, calculated as an average correlations between all currency pairs of the Yen, this currency was not one of the main drivers last week. The average correlation levels stood at 0.56 points during the week while for the vast part of the period the currency fluctuated around this mark and registered no constant development. At the same time, levels of JPYs significance stayed, as usually, at relatively high levels, while last weeks mean correlation coefficient for this currency at 0.53 points has slightly exceeded 20-day average of 0.5.