Yen Flat After Tankan Survey

The Japanese yen was mostly flat today after the release of the Tankan survey that showed improvement in both manufacturing and non-manufacturing sectors for large enterprises.

The manufacturing index rose from 10 in the December quarter to 12 in the March quarter, missing analysts expectations of 14. The non-manufacturing index increased from 18 to 20, exceeding the median forecast of 19. Overall though, economists were not impressed with the data and did not consider it good enough to make the Bank of Japan rethink its monetary policy.

USD/JPY traded near its opening level of 111.40 as of 13:00 GMT today. EUR/JPY was also close to its opening of 118.79.

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