Yen earns further ahead of BOJ policy details

Yen earns further ahead of BOJ policy details

On Friday, the Japanese yen earned further on a slew of data from Japan across retail sales, consumer prices, industrial production and household spending and all ahead of a closely-watched major bank policy review.  

The currency pair USD/JPY was worth 104.19, showing a 1.03% tumble, while AUD/USD soared 0.36%, trading at 0.7530.

Later during the trading session, the Bank of Japan will disclose  its latest monetary policy statement as well as interest rate decision.

Earlier in Japan, in June, household spending edged down 1.1% in month-on-month, compared to an expected 0.4% revenue with year-on-year demonstrating a 2.2% sink. As for national CPI, it slumped 0.4% in June year-on-year, thus matching expectations, while the unemployment rate descended to 3.1% from 3.2%.

Apart from that, in Japan, industrial production headed north 1.9%, which is much better than the 0.7% revenue observed for June month-on-month. Additionally, retail sales sagged 1.4%, slower than the 1.5% drop expected.


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