The Japanese yen strengthened against other major currencies in the Asian session on Tuesday, after data showed that retail sales in Japan rose more than expected in January.
Data from the the Ministry of Economy, Trade and Industry showed that retail sales in Japan were up a seasonally adjusted 0.5 percent on month in January. That beat expectations for an increase of 0.3 percent after dropping an upwardly revised 1.6 percent in December.
On a yearly basis, retail sales advanced 1.0 percent, in line with expectations and up from 0.6 percent in the previous month.
At the same time, the METI also showed that industrial production in Japan was down 0.8 percent on month in January. That missed forecasts for an increase of 0.4 percent following the 0.7 percent gain in December.
On a yearly basis, industrial production climbed 3.2 percent, also shy of expectations for 4.4 percent but unchanged from the previous month.
Meanhwile, investors are awaiting a speech by U.S. President Donald Trump…