The USD/JPY pair is growing for the third consecutive day despite an insular interest to the US Dollar.
The Japanese Yen is “losing weight” for the third day in a row. At the moment, the pair is moving close to its weekly highs. The current quote for the instrument is 101.48.
Today’s statistics showed that retail sales in August in Japan reduced by 1.1% m/m after adding 1.5% m/m in July. On a year-on-year basis, the August number lost 2.1%. The indicator has been declining for the last six month and it looks like the tendency is becoming stronger.
The retails sales indicator is a rather informative way to assess the health of the country’s economy by analyzing consumer spending. The decline is always negative for the Yen.
At the same time, one can hardly notice an insular interest of the market to the US Dollar – investors are very aggressive and don’t pay much attention to the worldwide emotional intensity.
Demand for the Yen as a “safe haven” currency might return in November, when the USA will have too many event important for the market.
RoboForex Analytical Department
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