The Japanese Yen fluctuated in the same range against the US Dollar on the country’s household spending and job market data. The USD/JPY currency pair added some pips to continue nearing the 113.30 level.
Japanese household expenditure rose more than anticipated in November, while the unemployment rate reached 45-year low and consumer price growth ticked up in the same period, providing the Bank of Japan some hope that the recovery could bring the inflation rate to its goal of 2%. The country’s jobless rate fell unexpectedly to 2.7%, while job availability was at 44-year high, suggesting lingering job market’s recovery. Separate data indicated that household spending rose 1.8% for the month, far above expectations for a 0.6% increase.
