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- USD/JPY stabilizes above 128.00 even as Japan raises view on consumption, economy
USD/JPY stabilizes above 128.00 even as Japan raises view on consumption, economy
In its April economic assessment report, the Japanese government raised views on the overall economy and private consumption for the first time since December 2021, despite brewing inflationary pressures.
Key takeaways
"The economy appears to be picking up as the severe situation due to COVID-19 is easing."
“The government listed "financial and capital market volatilities" among other downside risks to the economy.”
” The government also raised its assessment of public investment for the first time since July 2020 on robust public works contract data.”
Market reaction
After an up and down Asian session around 128.00, USD/JPY is looking to stabilize above the latter amid a rebound in the US Treasury yields, upbeat market mood and broad US dollar weakness.
The pair is trading at 128.19, up 0.22% on the day, as of writing.
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