The Japanese Yen appreciated by 0.5 percent yesterday as rise in risk aversion in the global markets boosted demand for the low-yielding currency. The Yen closed its trading session at 76.28 after touching an intra-day high of 76.20 on Monday.
Japan’s Manufacturing PMI increased to 50.7-level in January from 50.2- mark in December. Household Spending increased by 0.5 percent in December as against a previous decline of 3.2 percent in November.
Unemployment Rate increased to 4.6 percent in December compared to 4.5 percent in previous month. Prelim Industrial Production increased by 4 percent in December from previous decline of 2.7 percent a month earlier.
Outlook
The Japanese Yen is expected to trade with a depreciation bias today, taking cues from rise in risk appetite which will reduce demand for the low-yielding currency.
Courtesy: SMC Global
