Yen falls on weak consumer confidence data

The Japanese yen fell against the US dollar on Monday, due to the continued coronavirus impact on global economies, and the release of weak consumer confidence data.

The Japanese economy showed that consumer confidence fell to 30.9 points in March, lower than forecasts of 34.2 points.

Johns Hopkins University revealed that coronavirus infections rose to 1.3 million cases worldwide, and its death toll rose to more than 72,000 victims.

The number of coronavirus infections in the US alone rose to 346,000 cases, and its death too surpassed the 10,000 barrier.

The Japanese Prime Minister, Shinzo Abe, pledged to inject a 108 trillion yen ($989 billion) stimulus package, aimed at supporting the economy from the coronavirus impact.

USD/JPY rose 0.5% to 109.06 as of 19:01 GMT, after the pair hit a high of 109.3 and a low of 108.3.