Yen falls against dollar despite strong Japanese data
US dollar rose against Japanese yen during today, shrugging off strong Japanese data, after Yen rose yesterday on dollar's drop against a basket of currencies.
Japanese data revealed today that the average cash earnings rose by 0.4%, while analysts forecast a drop by 0.8%, household spending rose by 2.7% beating forecasts of 1.3%.
Although, Yen drew support from investors demand on it as a safe-haven, due to mounting fears about US-China trade war esclation.
Trump announced on thursday a 10% increase in tariffs on Chinese imports worth $300 billion, starting from 1st of September, and the Chinese government responded today by ordering its state-owned companies to stop purchasing American agricultural products.
As of 19:34 GMT, USD/JPY rose by 0.5% to 106.5, with a high at 107.06 and a low at 105.5.
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