According to reports, GPIF will likely cut its holdings in Japanese government bonds to around 40% from a current 60% target, while raising the investment in global stocks. The new allocation plan, which is expected to provide higher returns, is to be unveiled around the autumn.
The yen declined to 102.45 against the US dollar and 137.11 against the euro, compared to Wednesday's closing values of 102.08 and 136.60, respectively. On the downside, the yen may find support around 104.00 against the greenback and 138.00 against the euro.
The Japanese currency weakened to 112.83 against the Swiss franc and 172.60 against the pound, which may be compared to yesterday's closing quotes of 112.46 and 172.01, respectively. The yen is likely to face support around 113.5 against the franc and 173.5 against the pound.
The yen hit 93.82 against the loonie, a 2-day low, from 93.50 hit at yesterday's close. The next downside target for the yen lies around the 94.5 mark.
The yen that closed deals at 86.51 yesterday ticked down to 86.68 against the NZ dollar. The yen may possibly face support around the 87.00 region.
House prices in
The QV residential price movement index grew 7.6% year-over-year in July. This follows the 8% rise in June.
The US weekly jobless claims for the week ended
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