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Japanese Yen Gains, Ignoring Poor Domestic Data

March 22, 2019 at 13:39 by Vladimir Vyun

Many 10,000-yen notesThe Japanese yen gained against its most-traded rivals today despite worse-than-expected domestic macroeconomic data.

Japan’s core Consumer Price Index rose 0.7% in February from a year ago, while analysts had expected the same 0.8% rate of growth as in January. The Nikkei Flash Japan Manufacturing PMI remained unchanged at 48.9 in March, while experts had predicted an increase to 49.2.

USD/JPY dropped from 110.84 to 110.25 as of 13:26 GMT today. EUR/JPY slumped from 126.07 to 124.57.

If you have any questions, comments, or opinions regarding the Japanese Yen, feel free to post them using the commentary form below.

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