On Monday, USDJPY is updating this year’s lows; investors aren’t interested in “safe haven” assets.
The Japanese Yen is quickly retreating against the USD at the beginning of October. The current quote for the instrument is 114.01.
In the morning, Japan published a lot of interesting macroeconomic statistics. First of all, it was the Tankan Manufacturing Index, which fell up to 19 points against the expected reading of 22 points. The next one, the Tankan Non-Manufacturing Index, was also worse than expected, 22 points against 23 points. The Final Manufacturing PMI dropped from 52.9 points in August to 52.5 points in September.
The reports say that companies and manufacturers are influenced by growth of commodity prices and consequences of natural disasters. However, complications in trade relations between the USA and China didn’t make manufacturers less active.
Such readings may really complicate everything that the Bank of Japan is doing to push the inflation in the country towards 2%.
We’d like to remind that in the second quarter the Japanese economy showed a solid growth and recovered thanks to an excellent improvement of business expenditures.
Orgin: RoboForex
