Yen weakened on Monday (03/30) in Asian session after a preliminary report of Japan's industrial production recorded a further decrease compared to expectations. Japan's industrial production fell by 3.4 per cent is much below expectations of 1.8 percent decline. In addition, investors looked US interest rates will be increased more slowly than expected this year. USD / JPY was trading at 119.28, an increase of 0:11 per cent.
Japan's industrial output has decreased in February to the fastest pace for eight months due to decline in production of machinery, automobiles, and electronics amid signs of concern and could weaken domestic demand.
Alarmingly recovery
Manufacturing projections for the next few months still showed a gradual recovery in output, but its prospects is less certain. It can also be confusing Bank of Japan (BOJ) in charge of the slow improvement of the Japanese economy since the recession in the final quarter of last year.
Senior Economist Hidenobu Tokuda interviewed by Mizuho Research Institute says that the product is a little worried because decline that occurred in automotive output could be due to weak domestic demand. Output appears indeed show a recovery, but the figures are disappointing make this scenario becomes less convincing.
Source: www.tradingview.com
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