Retail sales in Japan and other data beat expectations, prompting a rebound in USD/JPY to the 142 region.
【9/17Market Overview
Tokyo time, the USD/JPY rose in early trading on expectations of domestic real demand for dollars141.24yen to 141.24. However, amid the weakness in the Nikkei average, it slipped to140.31yen. In European trading, the USD/JPY traded largely without a clear direction in the mid-140s140yen range.NYtime,8month US retail sales,8month US industrial production,9month USNAHBHousing Market Index and other data beat expectations, leading to dollar buying as US 10-year yields rose. With risk-on sentiment from gains in US stocks and the Nikkei futures, and some dollar buying back ahead of the FOMC release for position adjustments, the USD/JPY rose to10year yields climbing, and it pushed the USD/JPY up,FOMC announcements and adjustments also contributing to dollar buying, with USD/JPY reaching142.46yen.