Solid Macroeconomic Data Doesn’t Help Japanese Yen

Macroeconomic data released in Japan over the trading session was solid, but that did not help the Japanese yen, which dropped against all other most-traded currencies. The most likely reason for the decline was the improving market sentiment.
The Producer Price Index rose 3.0% in August from the same month a year ago, the same as in July and missing the consensus forecast of 3.1% just slightly. Core machinery orders from the private sector increased 11.0% in July after falling 8.8% in June. The actual reading beat the average forecast of a 5.6% increase.
USD/JPY advanced from 111.24 to 111.84 as of 15:01 GMT today. EUR/JPY jumped from 129.36 to 130.57.

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