Japanese Yen Falls Despite Better-than-Expected Domestic Data

Macroeconomic data released in Japan on Thursday was better than expected. But as usual, the Japanese yen paid more attention to the general market sentiment than to domestic reports. And the sentiment was not supportive of the Japanese currency. Currently, though, the yen managed to bounce against some of its rivals.
Japan’s Cabinet Office reported that core machinery orders rose by 6.6% in July from the previous month. That is compared with the predicted drop of 9.0% and June’s increase of 13.9%.
USD/JPY traded at 107.85 as of 9:29 GMT today after opening at 107.81 and rising to the daily high of 108.17. EUR/JPY gained from 118.70 to 118.95.

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