Investing.com - USD/JYP fluctuated between small gains and
losses on Friday during Asian trading hours after Japanese
industrial production rose less than expected in December and core
CPI remained unchanged.
According to figures released by Ministry of Economy, Trade and
Industry, Japan's industrial production in December rose by 1.1%
against the expected rise of 1.2% and previous fall of 0.1%.
Earlier in the day Statistics Bureau reported that country's core
consumer price index remained unchanged at 0.7% as per
USD/JPY fell 0.02% at 102.69, NZD/USD fell 0.17% at 0.8152,
while AUD/USD traded flat at 0.8797.
On Thursday, the greenback firmed against most major currencies
after the U.S. reported its economy grew at a healthy pace in the
fourth quarter of last year.
The dollar rallied after the Commerce Department said gross
domestic product expanded 3.2% in the three months to December, in
line with most forecasts, even outpacing some, following a 4.1%
rise in the third quarter.
Consumer spending rose by 3.3%, the strongest since the fourth
quarter of 2010, which markets applauded especially, while exports
grew by 11.4%.
The data strengthened the dollar by cementing market
expectations for the Federal Reserve to continue trimming its
monthly bond-buying program, which weakens the greenback pushing
down long-term interest rates.
Elsewhere on Thursday, the Labor Department said the number of
individuals filing for unemployment assistance in the U.S. last
week rose by 19,000 to 348,000 from the previous week's revised
total of 329,000.
Analysts were expecting the figure to remain relatively
unchanged at 330,000, though investors shrugged off the data.
Separately, the National Association of Realtors said its
pending home sales index dropped by a seasonally adjusted 8.7% last
month, disappointing expectations for a 0.3% gain, which also
failed to dampen spirits.
Rough winter weather has taken its toll on recent economic
indicators, though general market attitudes persist that U.S.
recovery remains on track.
Rising stock prices in the U.S., Europe and elsewhere also
bolstered the dollar as fears emerging-market contagion may spread
The dollar index, which tracks the performance of the greenback
versus a basket of six other major currencies, was down 0.01% at
Later today, the U.S. is to round up the week with a report on
manufacturing activity in the Chicago region, revised data on
consumer sentiment and a report on personal spending.
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