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USD/JPY falls with Nikkei 225 as Japanese officials return to talk the Yen higher

Much earlier today Japan released their October Tokyo CPI report and that showed prices did fall back, but not by quite as much as forecast. Nevertheless, annualised CPI has dropped back below 2%, from readings above that level the previous month. Despite that the Nikkei has fallen back today and that has helped to push the USD/JPY lower. The dollar already gave up on the 152 handle yesterday and had closed in the US last night at 151.83. The further fall today has seen it drop to a low at 151.49 a moment ago, from an earlier high at 152.11. As mentioned here earlier this week, the absence of any official comments on the exchange rate has actually now given way to a fresh round of warnings today. That has helped to push the Yen higher and perhaps we should not forget that the Japanese general elections are due this weekend, on October 27. There might be more to add on that later today. The USD/JPY is trading right now at 151.56

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