The Yen continued its bullishness against the major currencies on Monday on increased risk aversion. Yesterday saw traders ditch currencies such as the USD, EUR, and GBP in favor of the JPY. Additionally, the JPY benefited from reports from the Japanese government that the worst of the economic crisis in Japan may be over. The reason for yesterday's risk aversion was due to reports that the recession is set to be prolonged. This was compounded by the dire forecasts of the economic future of both Britain and the Euro-Zone.
Today, there are many economic releases that are set to be released out of Japan in late trading. These include the Core Machinery Orders, Bank Lending, and Current Account figures that will be released simultaneously at 23:50 GMT. Leading up to these releases, forex traders are advised to follow plans from the Obama administration regarding the rising unemployment in the U.S. If his administration fails to provide answers, then the JPY is likely to continue its winning streak.