Yen Supported by Data from Japan

The Japanese yen gained on the US dollar and the Great Britain pound today as macroeconomic data from the Asian country was mostly positive, increasing appeal of the currency to investors.
Japan’s core Consumer Price Index rose 0.3 percent in April while the Tokyo core CPI rose 0.2 percent in May, in line with expectations. Industrial production increased 1 percent in April on a seasonally adjusted basis, slightly above forecasts. Not every indicator was positive as household spending dropped last month unexpectedly. Yet markets focused on the good part of the data, allowing the yen to gain against some of its major rivals.
USD/JPY edged down from 123.94 to 123.71 as of 9:58 GMT today. GBP/JPY dropped from 189.79 to 189.16.

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