Yesterday’s anticipation of Japanese retail sales data gave a tinge of pessimism regarding the island economy’s ability to post gains amid this sluggish period. That pessimism was defeated this morning as Japan managed to post retail sales data that was better than forecast.
Japan’s consumer sector is still in a decline, of sorts, but this morning’s news underlines the rapid pace with which the country is addressing its economic reconstruction. The effect has been positive for the Japanese yen (JPY) so far, with mild gains seen across the board.
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