The Japanese yen gained against its most-traded rivals today despite worse-than-expected domestic macroeconomic data.
Japan’s core Consumer Price Index rose 0.7% in February from a year ago, while analysts had expected the same 0.8% rate of growth as in January. The Nikkei Flash Japan Manufacturing PMI remained unchanged at 48.9 in March, while experts had predicted an increase to 49.2.
USD/JPY dropped from 110.84 to 110.25 as of 13:26 GMT today. EUR/JPY slumped from 126.07 to 124.57.
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Japanese Yen Gains, Ignoring Poor Domestic Data
