Published: 2024-05-10T03:39:02.000Z
USD/JPY flows: Household spending rebounds
FX Analyst
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Jawboning continues
Japan March Household Spending +1.2% m/m (expected -0.3%)
As USD/JPY hovers around 156 figure, we continue to hear jawboning from Japanese finance minister after the rally pause after three green days. The latest March Household Spending are showing positive domestic demand at +1.2% m/m despite still down 1.2% y/y. Private consumption has been a key driver for the Japanese economy and such should be supportive for Japanese economic growth.
USD/JPY is up 0.18& higher at 155.69 with U.S. Treasury Yields outpace JGB yields.