© Reuters. Yen weaker in Asia
Investing.com — The yen’s advance engine, a little weaker in early Asia on Friday ahead of the CPI figures for August and a large amount of data.
USD/JPY changed hands at 112.32, up 0.02%, while AUD/USD dropping 0.04% to 0.7853. EUR/USD dipped 0.03% to 1.1784.
In Japan, the CPI for August of 0.7% expected to increase year-on-month, the national CPI and the national core CPI. As well, Japan, reports the expenditure of households with a decline of 0.2% on the month in August and seen a 1.0% increase year-on-year. Unemployment is expected to be seen to be stable at 2.8% and in retail trade up 2.6% in the year.
The US dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was quoted last down 0.34% 92.95.
Overnight, the dollar fell against a basket of major currencies, the show as a sign of weakness in the labour market offset data, the US economy grew faster than expected in the second quarter.
Gross domestic product rose 3.1% annual rate in the April-June period, the Commerce Department said in its third estimate on Thursday, beating an earlier estimate of 3%.
Fresh on the heels of the upbeat economic growth data, labor market report, the number of Americans showed filing for unemployment rose more than expected last week.
The U.S. labor Department reported Thursday that initial claims for unemployment benefits increased by 12,000 to a seasonally adjusted 272,000 for the week ended Sept. To increase 23, missing forecasts of 10,000.
The collapse of the dollar comes after one-month highs hit on renewed hopes for tax reform in the Wake of President Donald Trump ‘ s speech on Wednesday in which the President welcomed the tax reform published the plan of his government as a «once-in-a-generation opportunity».
The duo reports came only a few hours before the speech of Fed officials, Stanley Fischer and Esther George, as this rising interest rates the best way to ensure that the current economic recovery remains on track.
«Further gradual adjustment of the short-term interest rates, based on an economy of growth above trend … is important, if we want to keep this long expansion,» said George.
Sterling and the euro were the main beneficiaries of a jump in the greenback», as the latter is paring recent losses rose for the first time in three days.