Tuesday, 30 May 2017

Japan Household Spending Dipped 1.4 Percent For The Month Of April

In economic news, Japan household spending dipped 1.4 percent for the month of April, weaker than the 0.7 percent forecast. Meanwhile, April retail sales rose 3.2 percent on year, compared to a forecast of a 2.3 percent rise, Reuters said.

There was little reaction in the yen, which traded around 111.21 before the release of data. Dollar/yen traded slightly lower following the news at 111.18.

In other currency news, the dollar strengthened against a basket of six rival currencies to trade at 97.698 after holding steady in the last session around the 97.4 handle. The dollar hit a near six and a half month low last week.

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