The Japanese yen ticked down today even after the release of economic reports that were rather good and supported the view that the economy expands at stable pace and no additional stimulus is necessary.
Japan’s core Consumer Price Index demonstrated stable growth at 1.3 percent, while the Tokyo core CPI rose 1.0 percent in February, accelerating from January’s 0.9 percent. The unemployment rate unexpectedly fell by 0.1 percentage point to 3.6 percent and retail sales rose 3.6 percent on an annual basis, exceeding the forecast of 3.4 percent. Yet all these positive reports did not help the yen to hold ground against other most-traded currencies.
USD/JPY was up from 102.17 to 102.33 and GBP/JPY edged higher from 169.71 to 170.07 as of 11:30 GMT today.
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