USD/JPY Performance Chart as at 3:30 a.m. Singapore time, 28/04/11

Forex Focus is brought to you by IG Markets - Forex Trading

 

 

HISTORICAL DETAILS 

% Change

1 Wk 0.05%

1 Month 1.11%

3 Months -0.39%

6 Months 1.04%

1 Year -12.09%

 

52 WEEK

High 94.99

Low 76.25

 

BLOOMBERG MEDIAN FORECASTS

Q2 2011 85.00

Q3 2011 86.00

Q4 2011 88.00

Q1 2011 90.00

 

DAILY DETAIL

The yen extended losses against the greenback today as broad demand to buy the dollar pushed the Japanese currency lower, and after Standard and Poor's threatened to cut Japan's sovereign credit rating again, warning the huge cost of last month's devastating earthquake will hurt already weak public finances unless bickering politicians can agree to raise taxes. S&P affirmed its long-term sovereign credit rating on Japan at AA minus - the lowest among the major agencies - but downgraded the outlook to negative from stable. The change comes three months after S&P had cut Japan's sovereign credit rating - the first reduction since 2002 - saying the government had no plan to deal with its mounting debt while adding the administration's loss of an upper house majority had compounded the problem. Public debt, already twice the size of the ¥5 trillion economy, is set to swell as the country faces reconstruction costs following the March 11 earthquake and tsunami that could reach ¥50 trillion ($613 billion). Paolo Palazzi-Xirinachs, Chicago