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The yen plunges to 34-year low despite interest rate hike 
The Japanese government bonds ended Thursday’s Asian session on a higher note tracking a similar movement in the United States Treasuries after economic data in China and the U.S. disappointed investor sentiments.
At close, the yield on the benchmark 10-year JGB note, which moves inversely to its price, plunged 6 basis points to -0.060 percent, the yield on the long-term 30-year slipped 1-1/2 basis points to 0.520 percent and the yield on short-term 2-year traded tad lower at -0.160 percent.
The United States’ retail sales fell 0.2 percent during the month of April, while economists polled by Dow Jones expected an increase of 0.2 percent. Meanwhile, industrial production in the U.S. fell 0.5 percent in April after rising 0.2 percent in March.
Chinese industrial production rose 5.4 percent in April, well below a Refinitiv estimate of 6.5 percent. The print was also the weakest since May 2003, CNBC reported.
Meanwhile, the Nikkei 225 index closed -0.63 percent lower at 21,054.33, while at 06:00GMT, the FxWirePro's Hourly JPY Strength Index remained neutral at 45.20 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
