Japanese Yen Weakens
Dollar/Yen has declined 0.38% and it’s trading at 112.42. Today, the United States will release ADP Nonfarm Payrolls and ISM Nonfarm Manufacturing PMI. Janet Yellen is going to deliver a speech. Tomorrow, the US will announce unemployment claims. Currently, fed fund futures are pricing in 76% odds for a rate hike in December. If the price rises, greenback will reinforce.
Japanese economy keeps improving. Gross Domestic Product has been rising for half a year. Despite the fact that BoJ Core Consumer Price Index increased to a yearly maximum of 0.6% in August and Tokyo Core CPI improved to the 2-year maximum of 0.5% in September, inflation remains at low levels.