# USD/JPY Tests 111.00 Amid Falling Industrial Output, Bearish Forecasts

> USD/JPY traded near 111.00 after Japan's industrial output fell 2.1% in February, worse than forecast. Construction orders and housing starts also came in weaker than expected, and analysts expect a first-quarter GDP contraction.

- Date: 2021-03-31 · published 2021-03-31T12:00:00.000Z
- Category: macro · region Japan · magnitude low
- Page: https://feedsoft.ai/events/48353-usd-jpy-tests-111-00-amid-falling-industrial-output-bearish-forecasts
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

Weak Japanese data alongside a firm dollar pushes the yen lower, which raises the yen cost of US feed grains and meal for Japanese buyers.

## Read by commodity

- USDJPY: bullish ▲

## Sources

- fxdailyreport.com: https://fxdailyreport.com/usd-jpy-tests-111-00-amid-falling-industrial-output-bearish-forecasts/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.