The Japanese yen had a poor finish to the week, dropping against the US dollar at the end of the week. Official data showed that Japan’s household spending fell 0.3% last month, compared to expectations for a 0.4% rise. This followed a 0.4% increase in December. This was not the only piece of poor news for Japan on Friday, as a separate report showed Japan’s retail sales declined at an annualised rate of 2%, much worse than experts’ expectations.
A boost for the Canadian dollar
Friday saw the Canadian dollar jump, as demand for its US counterpart dropped, shrugging off data that showed a consumer price fall last month, despite the initial higher expectations.
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