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USD/JPY turns higher after weak Japanese household spending data
The USD/JPY pair rose slightly as traders reacted to income and spending data from Japan. The data showed that household spending declined by 16.2% in May after falling by 11.1% in April. Overtime pay declined by 25.80% mostly because of the state of emergency. The USD/JPY rose slightly as traders reacted to the weak household income and expenditure survey. The pair is trading at 107.40, which is higher than the day’s low of 107.25. chart Household spending in Japan declined in May as the country implemented a state of emergency due to the coronavirus pandemic. According to the statistics office, household ... (full story)