Yen retreats for first session in five versus dollar

Dollar tilted higher in Asian trade against yen following earlier data from Japan and ahead of US inflation data later today. 

As of 05:30 GMT, USD/JPY shed 0.09% to 113.13, with an intraday low at 112.93, and a high at 113.23. 

Earlier Japanese data showed machine orders rose just 6.8% m/m in August, compared to a 11% increase in July, and beating estimates of a 3.9% drop, while marking a 12.6% yearly increase, down from 13.9%, while still easily beating estimates of 1.8%. 

Federal Reserve Bank of New York President John Williams spoke today about monetary policy at the Central Banking Forum, jointly-hosted by Bank Indonesia and the Federal Reserve Bank of New York, in Bali, where he noted that interest rate hikes help contain financial risks. 

He stated: "The primary driver of us raising interest rates is just the fact that the U.S. economy is doing so well in terms of our goals,”

Now investors await US producer prices data, expected with a 0.1% increase in September, compared to a 0.1% dip in August. 

Wholesale inventories are estimated with a 0.8% increase, compared to a 0.6% addition in July.