The Japanese yen was soft today despite mild risk aversion among Forex traders. Domestic macroeconomic data was mixed, providing no aid to the currency.
Household spending rose 0.1% in real terms in July over the year instead of falling 0.9% as analysts had predicted. Average cash earnings rose 1.5% in July from the same month a year ago, missing the analysts’ average estimate of a 2.4% increase. The leading index slipped from 104.6 in June to 103.5 in July, in line with expectations.
USD/JPY opened at 110.72, fell to the low of 110.38 intraday, but bounced and was at about 110.84 as of 11:12 GMT today. GBP/JPY climbed from 143.00 to 144.18.
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