Yen Mixed amid Divergent Economic Data

The Japanese yen was mixed today, falling against the US dollar but rising against some other major rivals, like the euro. The divergent performance could be explained by the varying economic reports released today.
On the negative front, household spending dropped 2.4 percent in October from a year ago while analysts had expected no change. On the positive side, the Tokyo core Consumer Price Index was unchanged, in contrast to forecasts that had promised deflation, and the unemployment rate fell unexpectedly. The mixed reports did not help the yen in determining its trend, and thus the currency behaved differently against different peers, depending on their own strength.
USD/JPY was up from 122.59 to 122.70 as of 14:14 GMT after falling to 122.30 earlier. At the same time, EUR/JPY dropped from 130.03 to 129.76, trading near the lowest level since April.

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