The Japanese Yen continued its lead against the US Dollar, as investors ushered in positive economic release from the world’s second largest economy.
Supermarket sales figures rose for the second month in a row, due to rising food costs, causing investors to remain optimistic about future growth prospects. With Democratic Party Japan pushing for higher minimum wages, and the retention of the gasoline tax cut beyond April, expect consumer spending to recover, which could help Japan revive at a quicker pace than expected. Looking ahead, Merchandise Trade Balance and CPI figures should help the Yen gain against major currencies.