The US dollar is closing in on its 4 month high against the Japanese Yen as stronger US economic data drives the currency pair higher.
Industrial production and consumer confidence are due for release this evening along with the Bank of Japan interest rate decision. Despite rising inflationary pressures, the Bank of Japan is not expected to raise interest rates until the end of the year, at the earliest. Japan also officially raised meat prices, which is a confirmation that inflation is hitting the country hard.