Yen Continues to Fall After Economic Data Disappoints

The Japanese yen has started a decline at the end of the previous trading session and continued to move lower during today’s session. Japan’s macroeconomic data was somewhat disappointing, meaning that it could not stop the currency’s fall.

The Indices of All Industry Activity rose 0.4% in February from the previous month. While the reading was better than the drop by 1.1% registered in January, it still managed to miss the median forecast of a 0.6% increase.

Now, traders wait for a monetary policy announcement from the Bank of Japan on Friday, though experts do not anticipate any change to the policy.

USD/JPY rose from 108.80 to 109.12 as of 10:33 GMT today, and its daily high of 109.27 was the highest since February 9. EUR/JPY ticked up from 133.09 to 133.18, though retreated from the daily high of 133.34.

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