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Japanese Yen recovers further from one-month low, not out of the woods yet
The Japanese Yen (JPY) strengthens for the second straight day against its American counterpart on Friday and recovers further from a one-month low touched in the aftermath of hotter US consumer inflation figures. The eagerly awaited US Consumer Price Index (CPI), along with comments by Federal Reserve (Fed) officials, forced investors to reassess the likelihood of a rate cut in March. In contrast, the Bank of Japan (BoJ) is anticipated to delay the plan to pivot away from its ultra-dovish stance in the wake of the recent devastating earthquake in central Japan, falling rates of inflation in Tokyo and weak wage data. ... (full story)