Yen Flat After Bunch of Economic Reports from Japan

The Japanese yen was flat against most of its major rivals during the current trading session after a bunch of macroeconomic data was released from Japan today.

Arguably the most important of reports released today were consumer spending and inflation data. While both consumer expenditure and the core Consumer Price Index (both for Tokyo and for the whole Japan) fell, the drop was not as big as analysts had predicted. Still, the data suggests that Japan’s economy is struggling and the Bank of Japan should step in with additional stimulating measures — not a good prospect for the yen.

USD/JPY traded at 105.34 as of 11:51 GMT today, close to the opening level of 105.28. CHF/JPY barely moved from the opening of 105.94.

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