Yen Gains Investors’ Interest after Trump’s Comments
By Anatol Thomas
Yen will become the focus of the investors when the leading global currencies such as US dollar and Euro begin to decline. During the Trump rally, Yen hit a major low as US dollar continued to gain momentum. Later, when Trump’s outlook on the trade deals with other countries became evident, US dollar lost its significance, which pushed Yen higher. Again, Trump’s comments helped Yen to boost on Friday.
The US economic data released on Friday showed that the US has a long way to go to boost the economic growth. The consumer inflation was less than the expected value even though retail sales increased slightly. Donald Trump also expressed his harsh opinion against North Korea after North Korean attempt on testing missiles.
The household spending in Japan lost 2.0% in March. This is much greater than the month-on-month decline of 0.8%. The national core CPI gained 0.2% which was less than the expectation of 0.3%. The unemployment steadied at 2.5% while the expectation was that the unemployment rate would go up to 2.9%. The industrial production also reduced by 2.1% while the expectation was just 0.8%. The retail sales, however, went up by 2.1% surprising the experts who predicted that the gains would be capped at 1.5%.
The decline of Japanese Yen dropped slightly as investors pinned their hopes on US dollar. The USD/JPY pair was trading at 111.14 immediately after the release of the economic data. Euro too lost against the US dollar after Trump and ECB released their comments.
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