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Japanese Yen Little Changed After Traders Ignore PPI Report

Japanese Yen Little Changed After Traders Ignore PPI Report

2014-08-12 01:18:00
Rajyavardhan Pasari,
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Talking Points:

  • Japan Reports Domestic PPI M/M for July at 0.3% vs. 0.4% Expected; 0.2% Prior Month
  • Japanese Yen Little Changed As Traders Wait for GDP Figures Expected Tomorrow
  • Stay Updated With Major Economic Releases by Checking Out Our Economic Calendar!

The Japanese Yen remained little changed against major counterparts as the island nation reported its Domestic Producer Price Index in late hours of August 11, 2014 in London. The PPI rose by 0.3 percent month-on-month in June against expectations of 0.4 percent and a prior month figure of 0.2 percent. On a year-on-year basis, the figure printed at 4.3 percent, also slightly below expectations of 4.4 percent. Earlier in June, the same figure was reported at 4.6 percent, the highest since September 2008.

The Japanese Yen remained relatively unchanged likely because the data was close to market expectations and traders ignored the release, focusing their attentions on the GDP data release tomorrow. Senior Currency Strategist David Rodriguez discusses the GDP report further in his weekly forecast for the Japanese Yen.

Japanese Yen Little Changed After Traders Ignore PPI Report

USDJPY [15 mins – 08/12/2014] Chart created using FXCM Marketscope.

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