JPY Follow the flows


Benchmarks in Japan NIK, +0.76%   and Taiwan Y9999, +0.83%  , which have major tech companies, rose about 0.8% by midday Wednesday. Japanese electronics stocks were among the region’s big gainers, with TDK 6762, +6.58%   surging 6.1% to a fresh two-year high.

The Nikkei’s advance came despite the U.S. dollar losing some strength during Asian trading, after outgoing Federal Reserve Chairwoman Janet Yellen said that she is uncertain weak inflation is transitory. “It may be that there is something more endemic or long-lasting here that we need to pay attention to,” Yellen said in a discussion with Mervyn King, the former governor of the Bank of England.

The dollar JPYUSD, +0.241593%   was recently around ¥112.30, compared with ¥112.50 earlier Wednesday, but some of that reflects money going into Japanese stocks, said Stephen Innes, head of Asia trading at Oanda.

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This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Stephen Innes

Stephen Innes

Head of Trading APAC at OANDA
Stephen has over 25 years of experience in the financial markets and currently based in Singapore as the Head of Trading Asia Pacific with OANDA. Stephen's market views focus on the movement of G-10 and ASEAN Currencies. His views appear in Bloomberg, CNBC.Reuters, New York Times WSJ and the Economist. His media appearances include Bloomberg TV & Radio, BBC International, Sky TV, Channel News Asia, ASTRO AWANI and BFM Malaysia. Stephen has an extensive trading experience in Spot and Forward FX, Currency and Interest Rate Futures, Money Market Derivatives and Precious Metals. Before joining OANDA, he worked with organisations like Nat West, Chemical Bank, Garvin Guy Butler, and Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes