Japanese economic figures fall short, pushing the yen down, as the US dollar steadies across wider markets
Currency Markets Update: Dollar Strengthens as Trading Slows
With trading activity muted, the US dollar is showing renewed strength against most major currencies, as markets largely move sideways. US financial markets are on pause for President’s Day, and Chinese exchanges remain closed throughout the week in observance of the Lunar New Year.
The Japanese yen has come under pressure, slipping by approximately 0.5%, following weaker-than-expected economic figures—namely, fourth-quarter GDP and December’s industrial production. However, the dollar has yet to surpass last week’s peak near 153.65 yen. Meanwhile, even in the absence of direction from mainland China, the offshore yuan posted its most significant gain in several weeks.
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