USD/JPY scales eight-month highs on trade optimism

2020-01-14 08:46:03 GMT (

USD/JPY tilted higher in Asian trade to May 23 highs following earlier trade data from Japan and ahead of US inflation data, and America and China reached a trade deal with signing scheduled on Wednesday. 


As of 06:13 GMT, USD/JPY rose 0.13% to 110.09, marking eight-month highs at 110.21, with a session-low at 109.92. 


Earlier Japanese data showed current surplus shrank to 1.437 trillion yen in November, beating estimates of 1.425 trillion. 


Banking lending rose 1.8% y/y, slowing down from 2.1% in November. 


From the US, consumer prices are expected to rise 0.2%, slowing down from 0.3% in November, while expected to rise 2.4% y/y. 


Federal Reserve Bank of New York President John Williams was due to speak about the culture in financial services at a workshop hosted by the London School of Economics.


Otherwise, the US Treasury Department took China off its list of currency manipulating- countries after putting it there in August.  


The Department said China has pledged executable commitments to avoid weakening yuan and publish forex information, bolstering yuan versus dollar to six-month highs. 


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