Yen Shows Mixed Trading Against Majors
During early Asian deals on Friday, the yen showed mixed trading against its major counterparts amid various economic reports.
While the yen gained slightly against the euro, it recovered from a 2-day low against the pound. On the other hand, the yen showed choppy trading against the dollar and the franc.
Japan’s unemployment rate climbed to 5.2% in November from 5.1% in October, the Statistics bureau said today in Tokyo.
A separate report showed that Japan’s November core consumer prices declined to 1.7% from a year earlier. On a monthly basis, core CPI fell 0.2%, compared to a 0.1% fall in October.
The yen that fell against the pound in early Friday Asian deals reversed direction after touching a 2-day low of 146.47 at 7:55 pm ET. At present, the pound-yen pair is trading at 146.16.
In early Asian deals on Friday, the Japanese yen advanced slightly against the euro. As of now, the euro-yen pair is trading at 131.40. On the upside, 131.2 is seen as the next target level for the Japanese currency.
The yen bounced between 91.37 and 91.65 against the dollar during early Asian trading on Friday. Meanwhile, the yen moved between 88.10 and 88.43 against the Swiss franc. Currently, the yen is worth 91.40 against the dollar and 88.21 against the franc.
Looking ahead, Japan’s housing starts and construction orders for November are due at 12:00 am ET.
There are no other economic reports due for release as most financial markets across the World are closed today for the Christmas holiday.
