Japanese Yen Retreats After Rallying Earlier, Undisturbed by Poor Data

The Japanese yen was among the strongest currencies on the Forex market today, though the currency has retreated by now. Poor domestic macroeconomic data had a limited impact on the currency.
The Nikkei Flash Japan Manufacturing Purchasing Managers’ Index dropped from 50.3 in January to 48.9 in February. It was the lowest level in 32 months. Indices for all industry activity fell 0.4% in December from the previous month, whereas analysts had predicted a smaller drop by 0.2%.
USD/JPY fell from 110.83 to 110.71 as of 13:18 GMT today, touching the low of 110.59 intraday. EUR/JPY traded near its opening level of 125.65 after falling to the low of 125.32 earlier.

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