Japanese Yen Falls After Mixed Data, Risk Aversion Provides No Help

The Japanese yen was flat against the US dollar and fell versus other major currencies today despite the gloomy mood among investors as the trade war between the United States and China was ready to start. As for Japan’s macroeconomic data released on Friday, it was mixed.
Household spending fell 3.9% in May from a year ago. The actual drop was bigger than a 1.5% decline predicted by analysts and the 1.3% fall registered in April. At the same time, average cash earnings rose by 2.1%, exceeding the average forecast of a 0.9% increase and the previous month’s 0.6% gain.
USD/JPY was little changed at 110.63 as of 9:23 GMT today. EUR/JPY edged up from 129.35 to 129.55.

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