The Japanese yen fell against the US dollar today as nation’s inflation slowed last month. The currency also dropped against other rivals but has trimmed its gains by now, and against the euro it actually moved above the opening level.
The Statistics Bureau reported that Japan’s core Consumer Price Index rose 0.9% in March from a year ago. Compared to the previous month, the index fell 0.1%. The Ministry of Economy, Trade, and Industry reported that the index of tertiary industry activity showed no change in February, missing forecasts of a 0.1% increase slightly, but it was still a better reading than the drop by 0.4% registered in January.
USD/JPY gained from 107.36 to 107.66 as of 10:18 GMT today. EUR/JPY was up from 132.54 to 132.97 intraday but slid to 132.38 by now.
If you have any questions, comments or opinions regarding the Japanese Yen,
feel free to post them using the commentary form below.
USD/JPY Rises as Japan’s Inflation Slows
