Japan's industrial production grew 2.8% month on month in May, beating expectations of 2% from economists polled by Reuters.The yen currently still stands beyond the 160 mark against the dollar. On Thursday, the yen hit its weakest level against the greenback in 38 years.
Asia-Pacific markets climbed on Friday as investors assessed key economic data out of Japan and awaited U.S. inflation reading due later in the day.The Japanese yen currently still stands above the 160 mark against the dollar, last at 160.68, after hitting its weakest level against the greenback in 38 years on Thursday., up from 2.2% in May. The core inflation rate —which strips out prices of fresh food — rose to 2.1% from 1.9% in May.
The U.S. is expected to release its preferred inflation gauge, the personal consumption expenditure index on Friday.
Source: Financial Digest (financialdigest.net)
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