Japanese Yen Soft Despite Accelerating Manufacturing Growth

The Japanese yen fell against some of its most-traded rivals and was flat against others today despite accelerating growth of Japan’s manufacturing sector and political turmoil in various parts of the world.
The Nikkei Flash Japan Manufacturing Purchasing Managers’ Index rose a bit to 52.5 in August from 52.3 in July. The actual figure was slightly above the forecast value of 52.4. The report commented on the result:

August flash data extended the current growth cycle in Japan’s manufacturing sector to two years, the longest uninterrupted stretch of expansion since the global financial crisis

USD/JPY rose from 110.56 to 110.79 as of 12:24 GMT today. EUR/JPY was little changed at 128.22.

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