The yen is still losing

29.07.2015
On Wednesday, the USD/JPY pair is trading with an increase, despite the good Japanese statistics.

The Japanese Yen retreats in tandem with the US dollar for the second day. Most likely, it's not about the yen - investors are secure in the USD in anticipation of the completion of the two-day meeting of the US Federal Reserve.

This morning, Japan has published statistics on retail sales for June. The index rose by 0.9%, exceeding the forecast of 0.5%. Yearly, retail sales have grown by 0.3%. This is a good statistic, given that the positive trend observed here is for the third month in a row. If consumers are willing to spend, then the economic situation is far from critical.

The world news agencies today wrote that the Bank of Japan in the third quarter expected inflation of about 1% or slightly higher. A little earlier the BoJ began to publish a new report on inflation in the framework of the monthly release of the local economy. According to this publication, in May, CPI, added 0.7%. Releasing this data, the Bank of Japan, apparently, wants to again draw attention to the fact of the victory over the long-term deflation, which drained the economy of Japan.

Most likely, all the news is already priced in the USD/JPY pair. Ahead is the Fed's press conference, which is expected to issue a concrete time of the rise of interest rates. Against this background, everything else pales as standard
 
RoboForex Analytical Department

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.