Today's revised industrial production figures, published by the Japanese Ministry of Economy, Trade and Industry (METI) at 5:30 GMT this morning, revealed industrial growth coming in moderately above forecasts. Expectations were for growth of approximately 1.0%, but today's report revealed a 1.6% increase in Japanese industrials.
The Japanese yen has been earning support these past several trading weeks as investors weigh risk sentiment in the global market. The allure of the yen's low interest rates have made it a prominent store of value for forex traders. This news, coupled with the Bank of Japan's (BOJ) decision to hold rates near zero today, will likely continue to support this general sentiment.
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