On Wednesday afternoon, USDJPY is trading a little bit upwards; the statistics couldn’t support the Yen.
The Yen is slowly retreating against the USD in the middle of the week. The current quote for the instrument is 111.22.
There were some numbers from Japan today. The Consumer Confidence Index fell up to 43.3 points in August after being 43.5 in the previous month and against the expected reading of 43.4 points. The actual number is the lowest this year. The components of the report show that the perception of income growth decreased up to 41.8 points and the employment indicator was down to 47.7 points. Other sub-indexes also lack stability, although the look a bit better: the willingness to buy was down only by 0.2 points, to 42.0 points, while the perception of overall livelihood even improved by 0.1 points and now equals 41.6 points.
These aren’t the best numbers for the Japanese Yen, but investors don’t usually respond to the domestic statistics from Japan, apart from the inflation or the QE program.
At the moment, the USD is reaching stability against major traded currencies, but market risks haven’t gone anywhere. This provides some additional pressure on the Yen and makes USDJPY trade in a narrow range.