Investing.com - " The U.S. dollar traded slightly lower against
the Japanese yen during Tuesday's Asian session following the
release of data points that suggest Japanese consumers are pensive
ahead of the implementation of a consumption tax.
In Asian trading Tuesday, USD/JPY fell 0.06% to 97.63. The pair is
likely to find support at 96.66, the low of October 7 and
resistance at 98.00.
Earlier Tuesday, Japan's Statistic Bureau said the country's
unemployment rate fell to 4% last month from 4.1% in August.
Economists expected a reading of 4% for September.
In a separate report, the Statistics Bureau said household spending
in the world's third-largest economy rose 3.7% in September after
falling 1.6% in August. Analysts expected a September increase of
In another report, the Ministry of Economy Trade and Industry said
that Japanese retail sales rose 3.1% in September after rising 1.1%
in August. Analysts expected an increase of 1.9% last month.
Some market observers believe the retail sales and household
spending numbers shot up last month ahead of the implementation of
controversial consumption tax in Japan.
On Sunday, BoJ Deputy Governor Kikuo Iwata reiterated the central
bank's commitment to large-scale easing until it reaches its
desired inflation target of 2%. The country's monetary and fiscal
policies are at a critical point for ending deflation, Iwata said
in a speech given in Western Japan, Bloomberg reported.
Elsewhere, AUD/JPY dropped 0.48% to 93.08 after Reserve Bank of
Australia Governor Glenn Stevens said the Aussie has room to
NZD/JPY lost 0.31% to 80.86.
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