The Yen is retreating. Overview for 15.08.2017

15.08.2017

After reaching four months’ lows, the USD/JPY pair continues to recover on Tuesday.

On Tuesday, the Japanese Yen is getting weaker against the USD. the current quote for the instrument is 110.43.

Today’s statistics published by Japan showed that the Revised Industrial Production expanded by 2.2% m/m in June after adding 1/6% m/m the month before and against the same expected reading. On YoY, the indicator remains pretty sad as it lost 5/5%.

The components of the report say that the inventories lost 2.0%. The operating rate added 2.1% in June after losing 4.1% in May, thus compensating losses a bit.  

However, right now investors don’t pay much attention to the statistics. It happens every time when the political news is more important. After the North Korean leader suspended his plans to launch rockets in proximity to Guam, the demand for the “safe” Yen decreased and the market conditions struck to balance.

Still, there are risks that the relations between North Korea and the USA might get more complicated, and they are much more serious that at the beginning of the year. However, the worst is probably over so far, so the Yen is losing the positions it gained earlier.  

 

RoboForex Analytical Department

 

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.