Yen climbs for fourth straight session against dollar to month highs

Economies.com
2021-11-09 06:03AM UTC

USD/JPY fell in Asian trade away from November 2017 highs following earlier data from Japan and ahead of US data, including Fed Chair Jerome Powell's speech.

 

As of 05:54 GMT, USD/JPY fell 0.41% to 112.76, with an intraday high at 113.29, and the lowest since October 11 at 112.72.

 

From Japan, the current account index is expected to show a surplus of 0.76 trillion  yen, compared to 0.88 trillion yen in August, and missing estimates of 0.85 trillion.

 

Japan's average income rose 0.2% y/y in September, slowing down from 0.6%, while Bank of Japan's bank lending index rose 0.9%, accelerating from 0.6% in September.

 

Japan's current conditions index rose to 55.5 from 42.1 in September, while beating estimates of 48.6. 

 

From the US, producer prices are expected up 0.6% in October, while core prices are expected up 0.5%, compared to a 0.2% increase in September.

 

Federal Reserve Chair Jerome Powell is due to deliver opening remarks at an online conference on diversity and inclusion in economics and central banking, jointly hosted by the Federal Reserve Board, Bank of Canada, Bank of England, and European Central Bank.

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