CurrencyShares Japanese Yen Trust ETF (FXY) - NYSEARCA
  • Sun, May 22, 9:40 AM
    • The United States issued a fresh warning to Japan against intervening in currency markets on Saturday as the two countries' differences over foreign exchange overshadowed a G7 gathering of finance ministers in Japan.
    • Treasury Secretary Jack Lew said he did not consider recent yen moves as "disorderly," but his Japanese counterpart Taro Aso dubbed them "one-sided and speculative."
    • G7 leaders also called for a mix of monetary, fiscal and structural policies to boost demand but left it to each country to decide its own policy priorities.
    • ETFs: FXY, YCS, JYN, YCL
    | Sun, May 22, 9:40 AM | 9 Comments
  • Fri, May 20, 4:00 AM
    • Finance ministers and central bankers from the G7 are gathering in Japan for a two-day meeting that will discuss a broad range of global risks.
    • Among them: swings in oil prices, world growth, Brexit, cybersecurity, tax evasion, monetary policy and financial regulation.
    • A surging yen is also pushing Washington and Tokyo into a standoff over currency intervention, and U.S. officials hope to convince Tokyo to temper its threats of a yen devaluation.
    • ETFs: FXY, YCS, JYN, YCL
    | Fri, May 20, 4:00 AM | 4 Comments
  • Fri, May 13, 10:42 AM
    • Fixed-income markets are mostly yawning and equities are modestly lower, but the greenback adds to a sizable May rally after retail sales for April flew past consensus estimates.
    • UUP +0.7%
    • Markets may have been bracing for a weak print, given the string of disappointing earnings and guidance coming from some major retailers over the past several sessions. It turns out consumers are spending, it's just continuing to shift away from traditional spots like department stores.
    • The euro (FXE -0.7%), pound (FXB -0.6%), loonie (FXC -0.9%), swissie (FXF -0.5%), and aussie (FXA -1%) are leading the way down among overseas currencies. The yen (FXY -0.1%) is closer to holding its own.
    | Fri, May 13, 10:42 AM
  • Tue, May 3, 7:22 AM
    • via Goldman Sachs:
    • "Seen in isolation, last week’s decision by the Bank of Japan (BoJ) to stay on hold is understandable. After all, the January move into negative rates produced a massive flattening in the JGB yield curve, exceeding anything seen in Apr. 2013 or Oct. 2014. We therefore have some sympathy for Governor Kuroda who said in the press conference that “we decided to watch the effect of QQE with negative rates this time.”
    • "But this meeting did not happen in isolation...
    • "Our view going into last week was that the BoJ needed to grab the bull by the horns and dispel the notion that it is running “out of bullets.” We thought it could do this by shifting the emphasis back to balance sheet expansion by, for example, taking concrete steps to lift housing loans off banks’ balance sheets, something Governor Kuroda floated in a recent speech. Instead, the BoJ seemed intent on teaching the markets to be “patient,” downgrading the inflation forecast yet again while taking no action.
    • "This is a fateful miscalculation in our view. Unconventional easing is above all an expectations game, where it is necessary to shock markets again and again, until they have no reason to question a central bank’s commitment to its inflation target. Preaching “patience” is the opposite, telling markets they expect too much. There is little doubt in our minds that $/JPY will keep falling in the near term, until Governor Kuroda is forced to respond with overwhelming force. We therefore hold to our structural view that $/JPY ultimately will go a lot higher. But in the short term, it will fall.
    • ETFs: DXJ, EWJ, FXY, YCS, JGBS, JGBD, DBJP, DFJ, JYN, JOF, JPNL, DXJS, EZJ, JEQ, EWV, HEWJ, YCL, SCJ, JPXN, JSC, JPP, JGBL, JGBT, DXJH, JGBB, QJPN, JHDG, DXJF, JPMV, FJP, DXJR, DXJT, JPN, DXJC, HGJP, JDG, HFXJ, HEGJ, HJPX, FXJP, JPNH
    • Now read The Yen's Riddled Road To 100
    | Tue, May 3, 7:22 AM | 5 Comments
  • Mon, May 2, 3:01 AM
    | Mon, May 2, 3:01 AM | 5 Comments
  • Fri, Apr. 29, 11:34 AM
    • A board selloff in the greenback (UUP -0.7%) has gold (GLD +2%) eyeing $1,300 per ounce for the first time since early 2015. Gold is currently up 2.5% to $1,298.
    • There was modest disappointment in some 2nd-tier economic reports this morning, but other than that no clear reason for the dollar decline. Particularly strong are the euro (FXE +0.9%), Swiss franc (FXF +0.8%), and yen (FXY +1.1%). The commodity currencies (FXC +0.1%), (FXA -0.1%) aren't doing a whole lot even as oil takes out $46 per barrel.
    • ETFs: GLD, IAU, UUP, PHYS, SGOL, UGL, UDN, DGP, GTU, UGLD, GLL, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, USDU, GYEN, GEUR, UBG, QGLDX
    | Fri, Apr. 29, 11:34 AM | 42 Comments
  • Thu, Apr. 28, 3:27 AM
    • The Nikkei has slumped and the yen has jumped after the Bank of Japan surprisingly held off from increasing its monetary stimulus as it looks to take more time to understand the effect of its negative interest rates.
    • The Nikkei is -3.6%, while the dollar is -3.2% at 108.27 yen.
    • Specifically, the BOJ let three key easing tools unchanged: its ¥80T ($732) target for expanding the monetary base, mostly through buying government bonds; the 0.1% negative interest rate; and a program to purchasing riskier assets such as stocks.
    • The BOJ also put back to 2017 its timeframe for achieving its target of 2% inflation, the fourth delay in about a year.
    • The BOJ's lack of action comes despite the strengthening of the yen over the recent period - aside from today - and inflation not picking up.
    • Data today showed that March CPI fell 0.1% on year vs +0.3% in February. Core CPI, excluding fresh food, dropped 0.3% after being flat.
    • BOJ Web site
    • Inflation Report
    • ETFs: DXJ, EWJ, FXY, YCS, JGBS, JGBD, DBJP, DFJ, JYN, JOF, JPNL, DXJS, EZJ, JEQ, EWV, HEWJ, YCL, SCJ, JPXN, JSC, JPP, JGBL, JGBT, DXJH, JGBB, QJPN, JHDG, DXJF, JPMV, FJP, DXJR, DXJT, JPN, DXJC, HGJP, JDG, HFXJ, HEGJ, HJPX, FXJP, JPNH
    | Thu, Apr. 28, 3:27 AM | 9 Comments
  • Fri, Apr. 22, 4:30 PM
    | Fri, Apr. 22, 4:30 PM | 2 Comments
  • Sat, Apr. 16, 4:39 PM
    • via Barclays: "A major earthquake struck last night in Kumamoto, but did not trigger a tsunami or nuclear accident – the biggest factors exacerbating damages at the time of the 2011 Great East Japan Earthquake – so any effect on the Japanese economy appears likely to be limited. Our outlook for the market is unchanged.
    • "However, some factories in the region may halt operations. Given the sophistication of supply chains in manufacturing, damages at any one factory could still have a widespread effect.
    • "The market has already been monitoring the possibility of the Abe administration compiling a large-scale package of emergency economic measures in May-June and postponing the consumption tax hike scheduled for April 2017. With the earthquake, this possibility may have increased and an announcement could come earlier. There may also be a stronger possibility that he delays the tax hike without dissolving the Lower House and calls a general election to seek a mandate from the Japanese public. In any case, it is still difficult to gauge the earthquake damages at this stage. However, they do not appear to be anywhere near the scale of those resulting from the 2011 Great East Japan Earthquake."
    • ETFs: DXJ, EWJ, FXY, YCS, JGBS, JGBD, DBJP, DFJ, JYN, JOF, JPNL, DXJS, EZJ, JEQ, EWV, HEWJ, YCL, SCJ, JPXN, JSC, JPP, JGBL, JGBT, DXJH, JGBB, QJPN, JHDG, DXJF, JPMV, FJP, DXJT, DXJR, JPN, DXJC, HGJP, JDG, HEGJ, HFXJ, FXJP, JPNH
    • Now read The Only Thing Rising In Japan Is The Yen »
    | Sat, Apr. 16, 4:39 PM | 16 Comments
  • Fri, Apr. 8, 5:43 AM
    | Fri, Apr. 8, 5:43 AM | 1 Comment
  • Fri, Apr. 8, 2:51 AM
    | Fri, Apr. 8, 2:51 AM | 12 Comments
  • Thu, Apr. 7, 7:42 AM
    • JPMorgan on the yen: “If you only shoot blanks, it just makes a sound: at first everyone is surprised but once they get used to it it’s just noise”
    • It seems like just yesterday when everyone on the Street was convinced dollar/yen was headed up to ¥125 - and that was before the BOJ brought Japanese interest into negative territory. It hasn't worked out.
    • The yen's 1.3% advance today brings dollar/yen all the way down to ¥108.35, the weakest in nearly two years.
    • The strong yen isn't doing any favors for the Nikkei, which edged higher overnight, but is lower by 17% YTD. Also mulling the surging yen are investors in WisdomTree (NASDAQ:WETF), whose hedged Japan ETF (NYSEARCA:DXJ) has been seeing less demand. WETF is down 31% this year.
    • Now read: USD/JPY - Yen Surges On Dovish Fed Minutes, Breaks Below 109 (April 7)
    • ETFs: DXJ, EWJ, FXY, YCS, DBJP, JYN, JPNL, EZJ, JEQ, EWV, HEWJ, YCL, JPXN, JPP, FJP, JPN, HGJP, HFXJ, HEGJ, FXJP, JPNH
    | Thu, Apr. 7, 7:42 AM | 7 Comments
  • Tue, Apr. 5, 8:21 AM
    • Not wanting to be left out of the global monetary easing parade, Bank of Japan policymakers are likely to consider additional easing measures at their policy meeting late in April, reports Reuters.
    • Boosted asset purchases, rather than a cut in interest rates deeper into negative territory seem most likely, according to the story.
    • The central bank stunned markets in January with a move into negative territory for interest rates, but any positive reaction was short-lived, with the Nikkei slumping since, and the yen rising.
    • ETFs: DXJ, EWJ, FXY, YCS, DBJP, JYN, JPNL, EZJ, JEQ, EWV, HEWJ, YCL, JPXN, JPP, FJP, JPN, HGJP, HFXJ, HEGJ, FXJP, JPNH
    • Now read: Goodbye To The Quarter From Hell (April 5)
    | Tue, Apr. 5, 8:21 AM
  • Sun, Mar. 27, 6:05 AM
    • Foreign investors' ownership of Japanese T-bills climbed 9.5 percentage points in Q4 to 49% - the highest concentration on record. This despite the introduction of negative rates by the BOJ.
    • Here's why (via Bloomberg):
    • The Japanese T-bill that matures on May with a par value of 10M yen traded at 100.029 on Feb. 16, one day after it was issued. Buyers will get less than what they paid when it is redeemed at par on maturity.
    • A global investor who bought the security at that price would have bought 10.0029M yen at then USD/JPY spot-market rate of 114.07; to hedge the transaction, they could have simultaneously sold the equivalent of the bill’s face value, to buy $87,904 via 3-mo. forwards at 113.76.
    • This transaction leaves $213 more than the principal; had the investor been paid at the 3-mo. USD/Libor, he would have earned $136.
    • Now read Time To Fire Up Japanese Helicopters »
    • ETFs: FXY, YCS, JGBS, JGBD, JYN, YCL, JGBL, JGBT, JGBB
    | Sun, Mar. 27, 6:05 AM | 11 Comments
  • Fri, Mar. 18, 7:31 AM
    • Plenty of shops on the Street had been trusting the Fed's previous forecast of four rate hikes this year, but the central bank officially abandoned that position this week. Now other estimates are going to have to go as well
    • A prime candidate is the dollar/yen exchange rate - with a more dovish Fed, that's going lower. The team at JPMorgan now sees dollar/yen falling all the way to ¥103 by year's end from ¥111.45 currently (flat on today's session), and about ¥114 ahead of the Fed decision.
    • Former Japanese government official Eisuke Sakakibara - otherwise known as "Mr. Yen" - was predicting a yen rally ahead of the Fed move. He held (and holds) this view not because of monetary policy, and not because the Japanese economy is particularly strong, but because "the world economy has become very disorderly."
    • Reacting to the surge in the yen yesterday, the Nikkeil slipped 1.25% overnight.
    • ETFs: DXJ, EWJ, FXY, YCS, DBJP, JYN, JPNL, EZJ, JEQ, EWV, HEWJ, YCL, JPP, FJP, JPN, JPNH, HGJP, JPXN, HEGJ, FXJP, HFXJ
    | Fri, Mar. 18, 7:31 AM | 6 Comments
  • Thu, Mar. 17, 9:57 AM
    • The dollar tumbled all the way to ¥110.67 - a 17-month low - in the hours following the Fed's dovish meeting results, but quickly bounced back to nearly ¥112 in just about a 30-minute timeframe starting at about 8:30 ET this morning.
    • "That's [¥111] their Maginot Line," says currency strategist Boris Schlossberg, suspecting the big move was the result of the BOJ stepping in.
    • The greenback is currently lower by 0.85% to ¥111.57.
    • ETFs: FXY, YCS, JYN, YCL
    • Previously: "The tailwind of the weak yen has gone" (March 17)
    | Thu, Mar. 17, 9:57 AM
FXY Description
CurrencyShares Japanese Yen Trust is designed to track the price of the Japanese Yen net of Trust expenses, which are expected to be paid from interest earned on the deposited Japanese Yen.
See more details on sponsor's website
Country: Japan
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