Yen Weakens After Japan Inflation, Employment, Industrial Production Data[center]
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The yen edged lower against its major counterparts in early Asian deals on Friday after data showing that Japan's inflation rate remained stable, unemployment rate unchanged and the industrial production posted its largest increase in 4-months in the month of April.
The Ministry of Finance reported today that the national core consumer price index rose 0.3 percent in April, matching the 0.3 percent rise in March. For the full year to April, Core CPI was down 0.4 percent. Overall CPI was up 0.3 percent on month and down 0.7 percent on year, the Ministry said.
In a separate report, the Finance Ministry reported that the national jobless rate was 4.1 percent in April, unchanged from March. The data matched the expectations of most economists. Japan's industrial production rose 1.7 percent month-on-month in April, well-above a 0.6 percent increase expected and 0.9 percent growth recorded in March.
The output fell 2.3 percent annually, but improving from last month's 6.7 percent fall and also more than that of expected figures for a 3.4 percent decrease. The yen weakened as the market judged the positive economic output was the result of the so-called 'abenomics', cementing the fact that the central bank would continue with its strong monetary easing policies to lift Japan out of deflation.
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