Japanese Yen Gains Ground Versus US Dollar

Forex News

The US dollar continues to decline against the Japanese yen. The exchange rate of the US dollar against the yen was 112.70 yen against 112.87 yen yesterday. The dollar fell by 0.4% against the Japanese yen yesterday.

The USD/JPY pair jumped briefly to the level of 112.99 after the release of the optimistic Chicago PMI. The Chicago Purchasing Managers’ Index rose to 67.6 in December, compared to 63.9 in November, ending the year at its highest level since March 2011. In the quarterly measurement, the index rose to 65.9 in the fourth quarter from 61.0 in the third quarter, marking the best quarterly figures from the 1st quarter of 2011.