Economic data released from Japan over the current trading session was not particularly good. That did not prevent the Japanese yen from standing its ground against some currencies (like the US dollar and the Great Britain pound), even though it fell against others (like the euro and the Swiss franc).
Japan’s national core Consumer Price Index rose 0.1% in January from a year ago, nowhere near the central bank’s target of 2.0%. Furthermore, Tokyo core CPI actually fell 0.3% in February from the same month of the previous year whereas analysts were hoping for a small increase. And on top of that, household spending dropped 1.2% in January, year-on-year.
USD/JPY traded near its opening level of 114.40 as of 13:11 GMT today. EUR/JPY rallied from 120.21 to 120.80.
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