Yen rebounds from year nadir against dollar

Dollar fell off November 6 highs against yen for the seventh session out of eight, following earlier industrial data from Japan and ahead of US retail sales data. 

As of 05:40 GMT, USD/JPY shed 0.19% to 112.00, with an intraday low at 111.94, and a high at 112.28. 

Earlier Japanese data showed the final reading for industrial output up 0.2%, compared to 0.7% in 0.7% in the preliminary reading, and a 0.2% decline in July, while on a yearly basis, output rose 0.2%, slowing down from 0.6%, as the capacity utilization rate rose 2.2%, compared to a 0.6% drop in July. 

Bank of Japan governor Kuroda said the current correction in markets is traded to higher US treasury yields, however he maintained that economic foundations for Japan, the US, and Europe are still the same. 

Investors now await US retail sales data, expected to have risen 0.7%, up from 0.1% in August, while core sales are estimated with a 0.4% increase, up from 0.3%. 

The Empire State Manufacturing index is expected at 20.4, up from 19 in September, while wholesale inventories are estimated to have increased another 0.5%, adding to the 0.6% addition in July.