Yen plumbs nine-month nadir versus dollar

Economies.com
2018-09-28 06:17AM UTC

Dollar tilted higher in Asian trade to December 2017 highs against yen, following earlier inflation and labor data from Japan and ahead of US consumer sentiment, personal income and spending data.

 

As of 06:14 GMT, USD/JPY rose 0.10% to 11.349, with an intraday low at 113.34, and a nine-month peak at 113.63. 

 

Earlier Japanese data showed the Tokyo consumer prices index up to 1.3% from 1.2% y/y, beating estimates of 1.1%, while core prices rose 0.7%, up from 0.6%. 

 

The unemployment rate fell to 2.4% from 2.5%, missing estimates of also 2.5%. 

 

Retail sales rose 2.7% y/y, up from 1.5% and beating expectations of 2%, while industrial production rose 0.7% m/m, compared to a 0.1% dip in July, and below estimates of 1.4%. 

 

Now traders await US personal spending data, expected with a 0.3% increase, while personal income is estimated to have slowed down to 0.4% from 0.3%. 

 

The Chicago PMI receded to 62.3 from 63.6, while the final reading for UoM consumer sentiment survey is estimated at 100.5, up from 96.2 in August. 

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