Yen rebounds in Asia
On Friday, the Japanese yen rebounded during Asia trade after consumer prices data from Tokyo revealed that the core measure decreased more than expected. Moreover, attention is currently focused on a gathering of key bankers in the US state of Wyoming later in the day with the Fed Chair expected to provide fresh views.
The currency pair USD/JPY traded at 100.47 with a 0.05% sink, while AUD/USD achieved 0.7629, rising 0.14%.
In Japan, July’s national core CPI headed south 0.5% year-on-year, which is more than the 0.4% decrease observed, while national CPI lost 0.4% as expected in data, which is currently calculated under a 2015 base year with updated weightings.
The US dollar index, estimating the greenback’s value against a trade-weighted basket of six key currencies, sank 0.06%, getting to 94.62.
The annual economic symposium has found itself in the spotlight with Fed Chair’s opening remarks on Friday. Other major bankers are expected to discuss and also consider the future of monetary policy in the aftermath of the financial downtime and a low interest rate era.