Japanese Yen Firm Despite Mixed Data, Positive Market Sentiment

The Japanese yen rallied against its most-traded rivals today despite mixed domestic macroeconomic data and the positive general market sentiment.

The Producer Price Index rose 2.1% in March from the same month a year ago, matching expectations. Core machinery orders made by the private sector in February increased by 2.1% compared to January — a far better reading than a drop by 2.6% predicted by experts. Bank lending increased by 2.0% in March, year-on-year, missing the consensus forecast of 2.1% slightly.

USD/JPY dipped from 107.19 to 106.81 as of 12:02 GMT today. EUR/JPY slid from 132.42 to 132.22.

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