Yen Stable Despite Poor Economic Data from Japan

The Japanese yen was stable at the early Friday’s trading even though macroeconomic reports from Japan were far from being good for the most part. The currency demonstrated losses against other majors during the previous trading session.

The majority of Japan’s economic indicators were bad including the falling household spending and the slowing inflation. While industrial production expanded, the growth was smaller than economists predicted. The only really good news came in the form of an unexpected drop of the unemployment rate.

Surprisingly enough, the yen showed resilience even with all the negative data. But the currency is struggling to hold ground and may yet resume its decline.

USD/JPY traded at about 118.20 as of 00:22 GMT today after it opened at 118.30. EUR/JPY traded at 133.92, close to the opening level of 133.88, while GBP/JPY was at 178.15, near the opening of 178.20.

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