Growth of Japanese industry increased confidence in the yen

Japanese yen to get all 16 major currencies after the country’s industrial production increased for the third consecutive months in May while consumer confidence index for June rose more than expected.
In periods of economic uncertainty investors sought the safety of the Japanese yen because of the large trade surplus of Japan, which allows the country to overcome the crisis without relying on external assistance.
And foreign exchange markets welcomed the news that the value of output of factories, mines and utility companies in Japan has increased by 5.7 percent on a monthly basis in May, after taking into account a monthly increase of 5.2 percent in April.
The report of the Ministry of Economy, Trade and Industry also showed that the index of utilization of production capacity has increased by 8 percentage points to 72.6 percent. This is the third monthly rise in the indicator after record jump of 10.2 percentage points in April.
Separate data from the Council of Ministers revealed that the index of confidence of households has increased for six consecutive months in June. It reached 37.6 points in June to 35.7 points in May. The indicator is to destroy the record low value of 26.2 points in December.
Economists expect that measuring consumer confidence will be increased less by 36.8 points. Value less than 50 points means that the adjusted number of pessimistic consumers is higher than that of people with positive attitudes about future economic conditions.
Japanese yen poskapva nearly 1 percent against the British pound since the beginning of today’s session and the currency 10:35 am Bulgarian time, exchanged a pound to ¥ 148.17. Japanese yen poskapva by 0.4 percent against the euro and 0.2 percent against the U.S. dollar.

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Finance