-
Japanese yen retraces early gains on mixed data picture
The Japanese yen retraced early gains in Asia on Friday after a slew of data painted a mixed economic picture, but highlighted signs of a moderate recovery. USD/JPY traded at 103.71, down 0.02%, after the data, while AUD/USD weakened to 0.9353, down 0.03%. National core CPI data for July, year-on-year in Japan rose 3.3%, meeting expectations and posting a 14th straight gain. At the same time, the unemployment rate edged higher to 3.8%, compared to an expected 3.7% for July. Household spending fell 5.9%, slumping more than a forecast 3.0% year-on-year drop in real terms and notching a fourth consecutive year-on-year ... (full story)