Japan noted a rise in its core inflation rate today by 1 percent to 0.4 percent, it was the first rise over a year.
Meanwhile, in the United States, initial jobless claims report for the week ending 24th February decreased by 19,000 to 223,000. This was the lowest recorded in almost 44 years. The stronger labour market and inflation will drive the Federal Reserve to raise interest rates in their next meeting which will be held on the 15th of March.
Other markets are speculating the same which is lifting the U.S dollar higher and weakening the New Zealand dollar and Australian dollars.
Our Fijian dollar also weakened against the US dollar today and this will benefit our US exporters.