FXstreet.com (Barcelona) – Having spiked overnight to post a high at 102.61, USD/JPY was unable to hold above 102.50, and declined into the European open to where it is presently trading at 102.33, up just 0.04% on the days trading.
Data supports Yen selling overnight
Overnight data supported a continuation of Yen selling, with CPI continuing to show evidence of underlying price pressures. Employment data also showed signs of improvement too, but Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ comments that the real test for Abenomics will be if these developments translate into higher wages. He writes, …read more