Yen a Little Bit Weaker After Disappointing Inflation Report

The Japanese yen fell a little today. The reason for the losses was the inflation report that disappointed economists. The drop was minor due to thin holiday trading.

Japan’s core Consumer Price Index was flat in February compared to the same period a year ago while analysts had predicted small growth by 0.1%. The Tokyo core CPI fell 0.3%, more that it was forecast by experts.

Friday’s trading is expected to be sluggish as most markets are closed for Good Friday. This explains the small scope of the decline.

USD/JPY was up from 112.82 to 112.99 as of 10:12 GMT today after touching the high of 113.31 intraday. EUR/JPY was up a little from 126.10 to 126.19.

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