The Japanese yen rose today on the speculation that the Federal Reserve would keep the interest rates at current record low level as the U.S. economic growth shows signs of the slowdown.
The analysts estimated that the confidence of the U.S. consumers dropped from 76.0 to 74.2, according to the University of Michigan preliminary index, which will be released today. The investors cut bets to 14 percent that the Fed would raise the benchmark rate on its meeting in December.
USD/JPY trade at 87.19 today as of 10:06 GMT after it opened at 87.38.
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