The Japanese yen, paired with the US dollar, continues to decline. The current USDJPY quote is 138.37.
The strong US dollar, which is in demand as a safe haven asset, is having a remarkable influence on the Japanese yen.
Fresh Japanese statistics have attracted attention. The PMI report turned out positive: the services sector is reviving thanks to the rebound of the tourist flow into the country. Activity is also increasing in the manufacturing sector.
Both reports are favourable for Japan’s economy, which is still lagging behind its global counterparts in terms of recovery. Providers of services report noticeable demand and a record increase in business activity. Service-oriented businesses rebounded noticeably after Japan lifted restrictions on the entry of foreign tourists to the country.
Earlier, Japan presented its first-quarter GDP report, which also turned out favourable. It is clear that the Japanese economy has gained momentum. This could eventually be a good signal for the JPY.
Free Reports:
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
By JustMarkets On Thursday, the US stock market closed higher. By the end of the…
By Analytical Department RoboForex Gold continued its decline on Friday, falling to 4,619 USD per…
By Ji Y. Son, California State University, Los Angeles and Alice Xu, University of California,…
By JustMarkets On Wednesday, the US stock indices mostly rose, with the S&P 500 and…
By Analytical Department RoboForex GBP/USD held at 1.3528 on Thursday following an overnight decline. The…
By Hélène Nguemgaing, University of Maryland and Alan Collins, West Virginia UniversityThe United States is…
This website uses cookies.