Yen dips for fourth straight session versus dollar

Dollar tilted higher against the yen to June 14 highs, heading for weekly, monthly, and quarterly losses against the Japanese currency ahead of US data on personal spending, income, and consumer confidence. 

As of 05:56 GMT, USD/JPY rose 0.17% to 110.68 from the opening of 110.49, with an intraday low at 110.38, and a two-week high at 110.79. 

Earlier Japanese data showed the Tokyo core Consumer Price Index up 0.7% y/y in June, beating expectations of 0.6%.  

Japanese unemployment fell to 2.2% from 2.5% in April, marking 25-year lows, while industrial production slipped 0.2% m/m, compared to a 0.5% rise in April, while analysts expected a 1.0% decline. 

Japanese housing starts rose 1.3%, up from a 0.3% growth rate in April, while analysts expected a 5.7% decline.

Retail sales fell 1.7% in May, compared to a 1.4% rise in April, and missing expectations of a 0.8% drop. 

Japanese Prime Minister Shinzo Abe announced the deadline for applying the sales tax as planned at the start of 2019, with a possibility of passing the data in case of a global financial crisis. 

Chicago PMI is forecasts at 60.1, down from 62.7 in May, while the University of Michigan's consumer confidence survey is expected to have slipped in the final reading to 99.1 from 99.3 in the preliminary reading. 

Investors also look forward to the ongoing European Union Economic Summit, which entered its second day in Brussels with many issues discussed such as immigration, Brexit, defense and economy, with the leaders already reaching an immigration deal on Thursday.