Yen resumes rebound from four-week low versus dollar

Economies.com
2018-12-10 06:30AM UTC

Dollar fell in Asian trade off November 13 highs for the sixth session out of nine versus yen, following a stream of data from Japan and ahead of US labor data later today. 

 

As of 06:15 GMT, USD/JPY shed 0.21% to 112.45, with an intraday low at 112.24, and a high at 112.71. 

 

From Japan, the economy contracted 0.6% q/q in the third quarter, compared to a 0.7% increase in the second, and missing estimates of a 0.5% contraction. 

 

On a yearly basis, the economy contracted 2.5%, compared to a 1.2% 3.0% growth rate in the second quarter, and missing estimates of a 2.0% drop. 

 

Now investors await a US index on job opportunities, expected to have increased in October to 7.22 million from 7.01. 

 

Payrolls data released last Friday showed the unemployment rate steadied at 3.7% in November as expected, the lowest since 1969. 

 

US average earnings rose 0.2% in November, missing estimates of 0.3% and matching the pace of October. 

 

The US economy added 155 thousand new jobs in November, missing estimates of 198K, and compared to October's 237K increase, revised from 250K. 

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