USDJPY stopped growing on Thursday; the currency market has a calm day ahead.
The Japanese Yen is recovering a little bit against the USD on Thursday. The current quote for the instrument is 113.04.
Mood swings in the US stock market that took place earlier raised investors’ interest in the Yen as a “safe haven” asset. However, some reasons for rebound appeared and the mood changed again. Right ow, the Yen is looking quite stable, but the Japanese currency may be in favor again in case of new concerns on the market.
The National Core CPI added 1.0% y/y, the same as expected. On MoM, the indicator increased by 0.2% and also matched market expectations. The indicator excludes volatile goods, such as food, that’s why it is considered to be more or less objective. The components of the report showed the major contribution was made by fuel, transportation and communication, and culture and recreation.
The inflation is the major concern for Japan: the QE program and the soft monetary policy pursued by the Bank of Japan are intended to boost the Consumer Price Index.
There will be a clam day for investors today due to the Thanksgiving Day celebrations in the USA.