Forex

Yen declines to seven-week trough

2019-02-12 10:51:02 GMT (Economies.com)

USD/JPY rose in Asian trade to December 28 highs following earlier data from Japan, the world's third largest economy, and amid a lack thereof from the US. 

 

As of 05:38 GMT, USD/JPY rose 0.17% to 110.57, with an intraday low at 110.35, and a seven-week high at 110.65. 

 

Earlier Japanese data showed the M2 money stock indicator up 2.4% in January as expected, while the Tertiary industry activity index fell 0.3%, compared to a 0.4% drop in November. 

 

Federal Reserve Chair Jerome Powell will deliver a speech titled "Economic Development in High Poverty Rural Communities" at the Hope Enterprise Corporation Rural Policy Forum, in Mississippi, later today, while investors await the second round of US-China trade talks in Beijing later this week. 

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