The Japanese yen rose a bit against its major peers today thanks to the supportive macroeconomic reports released in Japan during the current trading session.
Japan’s core Consumer Price Index rose 0.8% in October from a year ago, while the Tokyo core CPI increased 0.6% in November. Both indicator were matching forecast exactly. The unemployment rate was stable at 2.8%, also within expectations.
Meanwhile, household spending and capital spending exceeded forecasts. Household spending was unchanged in October from the same month a year ago, whereas experts had predicted a drop by 0.2%. Capital spending increased by 4.2% in the third quarter of this year from the same period of the previous year compared to the predicted increase by 3.3%.
The headline Nikkei Japan Manufacturing Purchasing Managers’ Index increased in November to 53.6 from 52.8 in October. While it was a lower reading than the preliminary 53.8, it still was the strongest improvement in manufacturing sector conditions since March 2014.
USD/JPY slipped from 112.52 to 112.46 as of 10:33 GMT today. EUR/JPY was down from 133.95 to 133.86, retreating from the daily high of 134.37. GBP/JPY declined from 152.15 to 151.59.
If you have any questions, comments or opinions regarding the Japanese Yen,
feel free to post them using the commentary form below.
Be First to Comment