On Monday, the Japanese yen fell to 160 against the U.S. dollar, while stocks across the Asia-Pacific region saw gains.
The decline in the yen intensified on Friday following the Bank of Japan’s decision to keep interest rates steady. Japan’s stock markets remained closed due to a public holiday.
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Investor attention is now turning to the upcoming Federal Reserve meeting this week, especially after a U.S. inflation report on Friday exceeded expectations.
Data showed that core personal consumption expenditures for March, excluding food and energy, increased by 2.8% year-over-year, surpassing the 2.7% forecast by Dow Jones. Personal spending also exceeded expectations, rising by 0.8% compared to the anticipated 0.7%.
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Looking ahead, key economic indicators are on the horizon in Asia, with China’s official purchasing managers index set to be released on Tuesday, just before the Labor Day holiday. Japan is also expected to release industrial production and retail sales data for March.
