Forex

USD/JPY declines for third straight session

2020-11-30 09:01:35 GMT (Economies.com)

USD/JPY tilted lower in Asian trade for the third session following earlier Japanese data and ahead of some US data today. 

 

As of 07:09 GMT, USD/JPY fell 0.20% to 103.86, with an intraday low at 103.86. 

 

Earlier Japanese data showed industrial production up 3.8% in October, while analysts expected 2.3%. 

 

Retail sales in Japan rose 0.4% in October, while housing starts fell 8.3%.

 

From the US, the Chicago PMI is expected down to 59.4 from 61.1, while existing home sales are estimated up 1.1%. 

 

Federal Reserve Chair Jerome Powell will testify tomorrow on the CARES Act before the Committee on Banking, Housing, and Urban Affairs, in Washington DC.

 

The Federal Reserve tried to soothe investors with a recent statement, asserting credit support will carry on for companies and local agencies throughout the coronavirus pandemic. 

 

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