On Thursday morning, the USD/JPOY pair is falling; the Yen is trying to benefit from the USD weakness.
The Japanese Yen is strengthening against the USD on Thursday. The current quote for the instrument is 112.87.
The weakness of the American currency is in favor of the Yen. After the US 10-y Bond profitability started falling, the Dollar found itself in a losing position. Apart from this, the statistics published by Japan also made the difference.
Today’s report showed the Retail Sales in Japan expanded up to 2.2% y/y in November after being -0.2% y/y the month before. The report took into consideration the seasonal factor and calendar, so it is believed to be quite realistic.
According to the preliminary report, the Industrial Production in Japan increased by 0.6% m/m in November. Although it’s a preliminary estimation, it looks positive. The indicator wasn’t expected to change. Nevertheless, on YoY it added only 5.9% against the expected reading of 6.0%.
The currency market is still very inactive due to the low liquidity during holidays.
RoboForex Analytical Department