Yen Falls with Declining Retail Sales & Rising Stocks

The Japanese yen fell today amid falling retail sales and the investor’s improving sentiment that was triggered by the rise of stock indexes.

Japan’s retail sales fell 0.8% in April. The drop was not bad compared to the predicted decrease by 1.2%. Therefore, the more important factor for the yen’s drop were the gains of the S&P 500 and the Nikkei 225 stock indexes.

USD/JPY rose from 110.41 to 111.12 as of 10:11 GMT today, and its daily high of 111.44 was the highest since the huge drop on April 28. EUR/JPY climbed from 122.70 to 123.79.

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