The US dollar is cheaper against the euro in anticipation of data on inflation in the US, the value of the US currency against the yen fell during trading to a minimum level for 15 months.
Investor caution against the background of increased volatility of financial markets supports the yen, which is considered the currency of a "quiet harbor," said analyst of United Overseas Bank in Singapore, Heng Kun Hou.
Statistics on the economy of Japan, published on Wednesday, indicated a slowdown in GDP growth in Japan in the fourth quarter of 2017. Nevertheless, the Japanese economy in October-December 2017 grew by the end of the eighth quarter in a row, which is the longest period of a continuous rise in the country's GDP since the late 80's.
Despite the slowdown at the end of last year, the statistics on the whole indicate that the policy pursued by Japanese Prime Minister Shinzo Abe provides a stable economic recovery, writes MarketWatch.
Attention of traders is directed to the data on inflation in the US, which will be made public by the Ministry of Labor on Wednesday at 16:30 Moscow time.
Foto: © Reuters. Japanese currency rises in price to dollar and euro