Yen loses ground versus dollar in Asia

Dollar tilted higher to December 4 highs against yen following a stream of data from Japan and ahead of US inflation data later today. 

As of 05:47 GMT, USD/JPY rose 0.05% to 113.44, with an intraday low at 113.31, and a week high at 113.52. 

Earlier Japanese data showed producer prices fell 0.3%, compared to a 0.4% increase in October, while missing estimates of a 0.1% dip, as prices rose 2.3% y/y, slowing down sharply from 3.0%. 

Machine orders rose 7.6% m/m, improving from a 18.3% tumble in September while missing estimates of a 10.2% increase, while increasing 4.5% y/y. 

Now investors await US consumer prices data, expected with no change last month, down from a 0.3% increase in October, while core prices are estimated with a 0.2% monthly increase, same as October.

The US Treasury Department will release data on the budget, expected to show an increase in the deficit to $193.5 billion from $100.5 billion in October.