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CurrencyShares Japanese Yen Trust ETF (FXY)

  • Sep. 21, 2011, 2:42 PM
    The dollar is moving solidly higher across the board, as markets' initial take is less-than-hoped for priming from the Fed. One currency of note is the loonie, where the greenback has popped above parity to its highest level in 2011.
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  • Sep. 20, 2011, 8:17 AM
    "A major rethinking of industrial strategy" will be necessary if the yen remains at elevated levels for the next 6 months, says Nissan CEO Carlos Ghosn. Recently hovering about ¥77, the dollar's "normal" level is closer to ¥100, he believes.
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  • Sep. 20, 2011, 2:58 AM
    Japan's interim plan to deal with the strong yen includes a corporate tax cut and support for small and medium businesses. The government didn't close the door on direct currency intervention, saying it remains ready to take "decisive" action as needed.
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  • Sep. 9, 2011, 10:10 AM
    Rintaro Tamaki - formerly, one of the architects of Japan's foreign exchange policy, but now with the OECD - says the G-7 would prefer any intervention on the yen be done on a multilateral basis. Perhaps Mr. Tamaki has given a preview of what my come from this weekend's G-7 meetings.
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  • Sep. 9, 2011, 3:02 AM
    Japan revised Q2 annualized GDP -2.1% (-2.1% expected) vs. -1.3% initial reading. A major reason for the downgrade was because capital spending was revised to -0.9% M/M vs. +0.2% initial reading. (PR)
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  • Sep. 8, 2011, 7:24 AM
    Fitch says it may downgrade China and Japan as the nations struggle with heavy debt loads. The agency expects a "material deterioration in bank asset quality" in China will prompt a downgrade below AA within two years. In Japan, PM Noda will have to break a "logjam" in the Diet to sort out the debt mess and prevent a cut.
  • Sep. 7, 2011, 10:46 AM
    Toshiba (TOSBF.PK) has little choice but to bet on nuclear power after Shaw (SHAW +1.4%) exercises an option to sell back a 20% stake in Westinghouse. A strong yen allows Shaw to realize a $550M currency gain on the deal, and makes it tricky for Toshiba to sell to a non-Yen buyer if it wants out of the nuclear biz.
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  • Sep. 7, 2011, 3:07 AM
    As expected, the BOJ keeps its key interest rate at zero to 0.1% and says it will maintain this policy "until price stability is in sight." The bank, which is refraining from more easing, notes that output and exports have nearly recovered to pre-earthquake levels. Yen +0.3% vs. dollar. (.pdf)
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  • Sep. 2, 2011, 2:59 AM
    New Japanese Prime Minister Yoshihiko Noda names Jun Azumi to replace as him as FinMin. Azumi, a legislator from the earthquake-devastated Northeast, has apparently not shown much interest in economics and finance in the past, and little is known about his views.
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  • Aug. 31, 2011, 7:58 AM
    Japan spent $58.8B on currency intervention this month, double its previous record for such activity, which occurred last September. Like that move, this month's intervention looks to have caused no more than a short minor blip in the upward movement of the yen's value.
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  • Aug. 30, 2011, 4:37 PM
    The sharp fall in the Swiss franc (off nearly 20% against the dollar and euro the last 3 weeks) may present another headache for incoming Japanese PM Noda. For the moment, the yen looks like the last safe-haven currency still standing. At ¥76.70, it remains near its post-war high against the greenback.
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  • Aug. 24, 2011, 12:12 PM
    Moves by Japan today may be less an operation to weaken its currency, and more an "admission that yen strength is here to stay." In this, authorities are following the recent lead of the SNB, whose actions are designed to cap the franc's rise and make its high level more tolerable for businesses.
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  • Aug. 24, 2011, 6:29 AM
    Hedge funds net short positions against the S&P 500 (SPY) stocks hits highs not seen since 2008, SocGen says. Funds have closed short positions on 10-year T-notes (TLH) and "strongly diminished" shorts on 30-year bonds (TMV), but remain neutral on the dollar/euro (ERO), and net buyers of the franc (FXF) and yen (FXY). Enthusiasm for gold (GLD) remains strong.
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  • Aug. 24, 2011, 3:47 AM
    Following its downgrade of Japan's sovereign debt, Moody's announces further ratings cuts in the country, including: bank-affiliated finance companies, 12 regional/local governments, most Japanese banks, and 13 government-related issuers.
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  • Aug. 24, 2011, 3:31 AM
    The EU's debt crisis is unlikely to spread to Japan due to its current account surplus, Moody's says, having earlier cut the country's rating to AA3. The outlook is stable given the preference of domestic investors for government bonds, which enables the state to get "the lowest nominal rates globally."
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  • Aug. 24, 2011, 2:53 AM
    The yen reverses earlier losses and is +0.2% vs. the dollar and +0.3% vs. the euro as markets brush aside further Japanese attempts to curb the yen's strength, including a $100B fund to boost M&A activity overseas and a rule requiring financial firms to report currency-trading positions.
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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.
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Country: Japan
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