Forex

Dollar backs off six-week high against yen

2018-09-14 09:35:31 GMT (Economies.com)

Dollar tilted lower against yen while still on track for the first weekly profit in three, following earlier industrial data from Japan and ahead of US retail sales, consumer sentiment data. 

 

As of 05:50 GMT, USD/JPY inched down 0.05% to 111.86, with an intraday low at 111.79, and a six-week high at 112.08. 

 

Earlier Japanese data industrial production fell 0.2% m/m in July, compared to a 0.1% slip in June, while rising only 2.2% y/y, down from 2.3%. 

 

Now markets await US retail sales data, expected with a 0.4% increase in August, down from 0.5%. 

 

Import prices are estimated with a 0.2% monthly dip, and a 4.1% yearly increase, as industrial production is expected with a 0.3% increase in August, up from 0.1% in July. 

 

The University of Michigan's survey on consumer sentiment is estimated at 96.7 in September, up from 96.2 in August. 

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