The Yen is under pressure. Overview for 28.06.2018
USDJPY is growing quite well this week; “trade wars” risks are decreasing.
On Thursday morning, the Japanese Yen is falling against the USD. The current quote for the instrument is 110.23.
At the moment, investors’ interest in “safe haven” assets is reducing, because “trade wars” risks aren’t as high as they were not long time ago. Hence, the Yen is also falling.
The statistics published this morning showed that the Retail Sales in Japan expanded only by 0.6% y/y in May, which is twice as little as the expected reading and much worse than the indicator added in April (+1.5% y/y). On MoM, the indicator lost 1.7%.
It’s not the best news for the Japanese economy. The Index shows the total amount of sold goods via both shops and suppliers, including services. In this light, one may assume that the Japanese population lacks confidence in the country’s economy and are trying to be careful with spending their money.
Not only consumers spend little money, but households as well. This is a big problem for Japan: the economy won’t develop steadily as long as households don’t expand their expenses.
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