USD/JPY had popped earlier on the poor spending data:
Japan data – May household spending -1.8% y/y (expected +0.1%)
After highs circa 161.40 USD/JPY gave it all back. The momentum was added to by a little more aggression in the comments from Japan’s finance minister Suzuki earlier:
Japan finance minister Suzuki says weak yen is pushing up import costs
USD/JPY has dipped to just under 160.60. The USD is higher across the board, carrying on its ‘risk on’ move.
This article was written by Eamonn Sheridan at www.forexlive.com.
