The Japanese yen ignored Friday`s positive fundamentals about Japan`s industrial production that picked up the most since 2011 and consumer prices that kept its gains, in addition to the jobless rate that remains unchanged. Despite the positive data showing progress in the Japanese economy, yen continue to move in sideways against the U.S. dollar and other major currencies. This is because the Japanese currency remains a safe haven for traders, so it keeps moving in narrow ranges with having instability in global financial markets. Moreover, USD/JPY is currently hovering around 102.03, after the pair dropped in Thursday trades to 101.71. EUR/JPY slid Thursday to the lowest in two weeks at 138.78, while the pair is currently trading around 139.88.
Most Popular Stories
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Some California Cities Seeking Water Independence
- Apple, HP, Intel May Take a Hit from Slowdown in Smartphone Sales Growth
- Chinese e-Commerce Giant Alibaba Gears for IPO in U.S.
- FDIC Files Lawsuit on Behalf of Banks Allegedly Hurt by Libor Scandal
- Motley Crue's Nikki Sixx Marries Model Courtney Bingham
- Will Missing Malaysian Jet Prompt Aviation System Change?
- SoCalGas Reaches Record Spend on Diversity Suppliers
- Keurig Adds Peet's coffee, Alters Starbucks deal
- Obama Seeks to Stay Neutral in CIA-Senate Conflict