Aussie and yen hold gains in Asia

On Wednesday, the Australian dollar and the Japanese yen held gain during Asia trade with positive machinery orders noted in Japan as well as improved consumer sentiment in Australia.  

The currency pair USD/JPY traded at 101.33, slumping 0.54%, while AUD/USD was worth 0.7691, leaping 0.25%.

In Japan, core machinery orders leapt 8.3%, which is higher than the 3.1% revenue observed month-on-month and reported a 0.9% sag year-on-year, and better than the 4.2% sink observed.  Meanwhile, PPI figures demonstrated a 3.9% sag, just below the 4% dip observed year-on-year.

In Australia, the Westpac consumer sentiment index edged up 2%, rebounding from a 3% drop last month.

Also in Australia, June’s home loans gained 1.2%, below the expected 2.4% revenue month-on-month, while invest housing finance for June surged 3.2%, below a 3.9% soar last month. Later in the day, Governor Glenn Stevens, Reserve Bank of Australia is expected to deliver his speech.

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