Japanese Yen slips after weak economic data

Japanese yen fell against US dollar on trading today after the release of weak economic data and warnings from Bank of Japan's governor Haruhiko Kuroda of the trade war.

Kuroda said the Japanese central bank had lowered its forecast for factory production in two of the country's nine regions and warned that companies already felt the US-China trade war.

Kuroda stressed that while the Japanese economy is already affected by the slowdown in global economic growth, it will probably continue to grow at a moderate pace.

Bank lending in Japan rose 2.3 percent last month, while analysts expected it to rise 2.6 percent, machinery orders fell 7.8 percent, while the current account surged by 1.31 trillion yen.

In terms of trading, by 19:13 GMT, USD/JPY rose by 0.2% to 108.7, the highest at 108.7 and the lowest at 108.2.