The Yen is enjoying a great demand. Overview for 02.10.2020

USDJPY is falling on Friday; the Yen became interesting as a “safe haven” asset.

The Japanese Yen is quickly strengthening against the USD at the end of the week. The current quote for the instrument is 105.16.

The statistics published by Japan in the morning turned out to be rather mixed. The Unemployment Rate in the country increased up to 3% in August, just as expected, after being 2.9% in the previous month, and that’s the highest unemployment reading since 2017. 2.06M people are currently unemployed in Japan, which is much greater than it was last year. 

The components of the report show that the Jobs/applications ratio got worse, from 1.08 to 1.04, which is the worst ration since 2014. 

The Consumer Confidence went up to 32.7 points in September after being 29.3 points the month before and against the expected reading of 31.6 points. 

The statistics might make investors start thinking about the future outlook of the Japanese economy but these days emotions rule the market and they increase the demand for the Yen as a “safe haven” asset. Market players are trying to escape risks after the news about US President Donald Trump’s getting infected with the COVID-19, thus making the Yen go higher.