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Yen goes down after gain in corporate services index

On Thursday, the Japanese yen held weaker during Asia trade after corporate services price data demonstrated a higher than expected revenue with the market cautious ahead of remarks by the Fed Chair at the end of the week.

The currency pair USD/JPY traded at 100.55, rising 0.10%, while AUD/USD was worth 0.7610, descending 0.04%.

In Japan, the corporate services price index edged up 0.4%, higher than the 0.1% surge observed year-on-year.

The US dollar index, gauging the dollar’s strength against six main currencies, last traded at 94.73.

Overnight, the dollar ascended against the other key currencies on Wednesday, notwithstanding the issue of poor American existing home sales data. Meanwhile, sentiment on the US dollar kept strengthening ahead of Fed Chair Janet Yellen’s highly anticipated speech on Friday.

The US National Association of Realtors told that existing home sales tumbled by approximately 3.2% in July to 5.39 million units from June’s outcome of 5.57 million units.

 

 

 

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