The Japanese yen remained mostly soft today as the market sentiment stayed generally positive. The set of robust macroeconomic releases in Japan failed to support the currency.
Japan’s core Consumer Price Index rose 0.9% in August, year-on-year. The growth was in line with market expectations and a bit faster than the July rate of increase of 0.8%.
The Nikkei Flash Japan Manufacturing PMI rose from 52.5 to 52.9 in August. It was the highest reading in three months, though still trailed the average forecast of 53.1.
The indices for all industry activity showed no change in July, whereas analysts had predicted an increase by 0.2%. Still, it was a better reading than the drop by 0.9% logged in June.
USD/JPY rose from 112.48 to 112.74 as of 9:43 GMT today. EUR/JPY advanced from 132.40 to 132.84, and its daily high of 133.13 was the highest since April 26. GBP/JPY was an exception, falling from 149.17 to 148.75 after rising to the daily high of 149.71 — the highest level since May 22.
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Japanese Yen Stays Weak, Economic Data Fails to Aid
