The yen is mostly flat this morning after another flat session last Friday. Corporate goods prices were higher than expected, suggesting a more positive outlook for inflation. Looking at bond yields, rates are mostly lower this morning after rising last week. Given the yen's sensitivity to global bond yields, the currency strengthens when interest rate differentials fall. This hasn't been the case today.
USD/JPY is currently trading below 113.50. Looking at the euro vs. the yen, EUR/JPY is down and is currently trading above 132.10.
This is a fairly slow week for economic data releases relating to the yen. Corporate Goods Price Index numbers were stronger versus expectations (3.4% vs. 3.1% expected). On Wednesday, we’ll see GDP growth and industrial production numbers. Finally on Thursday, we’ll see cross-border stock and bond investments. Last week, Japanese residents continued to buy foreign stocks and bonds.