Yen edges up while still on track for first weekly loss in three

Economies.com
2019-02-08 06:22AM UTC

USD/JPY tilted lower in Asian trade today following earlier labor data from Japan, the world's third largest economy. 

 

As of 06:01 GMT, USD/JPY shed 0.08% to 109.73, with a session-low at 109.65, and a high at 109.84. 

 

Earlier Japanese data showed average wages rose 1.8%, compared to a 1.7% increase in November.

 

Household spending rose 0.1%, improving from a 0.6% drop in November, while the current account surplus shrank to 453 billion yen from 757 billion in November. 

 

Bank lending rose 2.4% in January, same as before and matching estimates. 

 

Bank of Japan governor Haruhiko Kuroda said in recent remarks the Japanese economy improved markedly since 2013, while inflation prospects improved as well recently, but still not at targeted levels. 

 

It's worth noting the Japanese government announced a 10-year holiday starting April 27 in celebration of the new Emperor's coronation in early May, making it the longest holiday in Japan's history. 

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