Dollar/yen falls for a fourth day after weak U.S. economic data.

【2/12Market Overview

Tokyo time: Long-term U.S. interest rates declined, signaling a pullback in the high-yield long trade. Finance Minister Saimura's cautious remarks on the yen also weighed on sentiment, pushing USD/JPY below yesterday's lows to the 152.56 level, then breaking past to 152.26. It later recovered to 153.48 after reports that Minister of Finance Katayama discussed tax credits and a lower consumption tax rate with Prime Minister Takai, and that there had been no discussion on the exchange rate. As European trading began, USD/JPY rose to 153.51 on Jiji Press reporting that the U.S. rate check on 1/23 was at Japan's request, and then moved higher to 153.76 as U.S. and Japanese stock futures rose. During New York time, weaker-than-expected U.S. initial jobless claims for the previous week and weaker January existing-home sales caused U.S. stocks and Nikkei futures to slip, pushing USD/JPY down to 152.35.152.35

【2/13Market View