Yen rises after positive economic data

 The yen rose against most of the major currencies during trading on Friday, following the release of economic data that was better than market expectations.



Government data revealed that the unemployment rate in Japan remained stable at 2.8% during the past month, while analysts' expectations indicated an increase in the index to 2.9% from 2.8%.


The "Tenkan" line index of Japanese industrial purchasing managers rose to the level of 18 points in September, compared to expectations of a decrease to 13 points, and the index for the service sector rose to 2 points.


Government data revealed yesterday that the final reading of the US gross domestic product recorded a growth of 6.7% in the second quarter, which exceeded analysts' expectations for a growth of 6.6%.


The Evergrande crisis continues to have a negative impact on global markets and the possibility of the damages of this crisis spreading to the Chinese economy.


In terms of trading, the US dollar fell against the Japanese yen by 18:09 GMT by 0.2% to 111.04, and recorded the highest price at 111.4 and the lowest price at 110.9.

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