Yen Goes Down, Economic Data Doesn’t Support

The Japanese yen weakened a bit today even though economic data released from Japan was relatively good and should have supported the currency.
The seasonally adjusted Consumer Confidence Index was up from 41.3 to 42.0 in August, exceeding the predicted figure of 41.6. Monetary base decreased from 24.7% to 24.2% last month, yet it was above the analysts’ expectations of 23.1%. Despite all of that, the yen fell as traders’ directed their attention to the upcoming non-farm payrolls, ignoring other news for the most part.
USD/JPY rose from 103.23 to 103.58 as of 10:12 GMT today. CHF/JPY edged up from 105.30 to 105.66, trading near the highest level since August 2.

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