USD/JPY holds lower for first session in four

Economies.com
2019-04-02 05:57AM UTC

US dollar fluctuated lower during the Asian session to see a drop from its highest since March 20th against the Japanese Yen, following the Japanese economy's developments and economic data and on the threshold of an economic data release expected today by the US economy.

 

At 05:52 GMT, USD/JPY dropped 0.02% to 111.33 from the opening at 111.35, after hitting a session low of 111.29 and a two-week high of 111.46.

 

Earlier, we followed the Japanese economy release the annual reading of the Bank of Japan's monetary base index, which showed a slower pace of growth to 3.8% from 4.6% in February, lower than forecasts of   4.4%. It's worth mentioning that Japan have been using this indicator as its main operational target for the monetary base scheme since April 2013.

 

On the other hand, investors are looking for the US economy to release the Durable Goods Orders, which account for about half of consumer spending, and more than two-thirds of the US GDP, which would show a 1.1% drop from January's 0.3%. , While the core reading of the same index may rise 0.3% from 0.2% in January.

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