Yen regains footing after yesterday's losses

Yen rose on Wednesday to recoup the losses of yesterday against the dollar, as demand increases on the Japanese currency for its haven status. 

USD/JPY fell to 107.19 from the opening of 107.32, with a session-low at 107.07, and a high at 107.52. 

Yen fell to three-session lows yesterday as the dollar recovered after Fed Chair Jerome Powell's testimony before Congress, which raised rate hike expectations. 

Today yen drew support as a safe haven as commodities drop and Asian stocks lose ground. 

Earlier Japanese data showed retail sales fell 1.8% in January, compared to a 0.9% rise in December, while rising 1.6% y/y, down from 3.6%. 

Industrial production fell 6.6% m/m, compared to a 2.9% rise in the previous reading, while rising 2.7% y.y, after rising 4.4% recently.