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USDJPY Range Trading, FOMC Minuted Print Later

JPY

USDJPY has been trending gently higher since it reached a low of 144.39 earlier. It is currently up 0.1% to 144.60 and has been relatively unaffected by the weaker-than-expected China PMIs. But they did boost the greenback with the USD index now 0.1% higher.

  • EURJPY has been range trading and is up marginally on the day at 157.26, off the intraday high of 157.43. AUDJPY is down slightly to 96.65 off the 96.83 high.
  • The Jibun Bank final June composite PMI was revised down slightly to 52.1 from 52.3 with services also down to 54 from 54.2.
  • Equities are generally weaker across the region after the US was closed on Tuesday. The Nikkei is down 0.6%, the Hang Seng -1.1% but Jakarta is up 0.2%. S&P e-minis are flat.
  • Later the FOMC June meeting minutes are published and the Fed’s Williams speaks. European/UK services/composite PMIs for June and May US factory orders print. On Thursday Japan’s weekly stock/bond flows are released.
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