The Japanese yen against the US dollar remains stable, the current quote is 138.51.
As long as basically the yen is aiming at devaluation, the current state of things can be called a fantastic luck.
This foothold was given to the yen by the weakness of the dollar that dropped after last week the minutes of the Fed’s meeting were published.
The morning Japanese statistics came out quite curious. The CPI in Tokyo in November grew to 3.8% y/y against the forecast 3.6% and 3.4% previously. Inflation in the region minus fresh food prices has grown to 3.6% y/y. Tokyo prices are normally interpreted as leading for general inflation.
If so, then after the local decline, the CPI in Japan could start growing. This would be good news for the economy and the yen. The Bank of Japan would be free of stress for some time.
Today it is going to be a calm trading day. The macroeconomic calendar is empty, a part of investors is out of the market because yesterday the Thanksgiving Day was celebrated in the US.
Source: Roboforex
