The USD/JPY pair fell to the April’s lows as the USD got weaker again.
The Japanese Yen is strengthening again; the demand for “safe haven” assets is increasing. After the missile launch by North Korea and Japanese comments that it didn’t reach Japan, the market is trying to avoid any possible risks. The current quote for the USD/JPY pair is 108.36.
Today’s statistics showed that the Household Spending lost 0.2% y/y in July after adding 2.3% y/y the month before and against expectations of expanding by 0.8% y/y. As a rule, the indicator is considered to be some kind of the consumer confidence index. If the index plummets, it is no good at all. Such sharp decline may say about the slowdown in growth.
Other report, the Unemployment Rate, showed that the number remained the same as before, 2.8%, just as expected.
However, these days investors pay little attention to the statistics and follow only geopolitical news. New attempts by North Korea to warn their neighboring country about its military-technical strength are not liked by anyone in the region. Investors take this news as a signal to get away from risks.
RoboForex Analytical Department