Japanese unemployment rises
Unemployment in Japan surged ahead to 5.4% in the last month, a six year high which has limited hopes of a fast recovery in the Japanese economy. Economists are expecting unemployment could go as high as 5.8% before the economy recovers.
The high unemployment comes in combination with figures that show prices have fallen -1.8% on the year in Japan. New housing starts are also down over 30%. Japan faces a long recovery process and at present, eroding profit levels, declining exports and the strong currency are pressuring the yen.
Foreign exchange rates for the yen at present are 158 per British pound and 134 per euro.
The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.