Asian Session – Yen weaker after Japanese data, euro under pressure ahead of GDP
Posted on August 14, 2014 at 7:00 am GMTThe yen weakened for a second day against the dollar after another run of weak Japanese data. An unexpected plunge in new machinery orders from Japanese companies raised concerns about Japanese businesses’ appetite for investment. Orders rose less-than-expected by 8.8%, well below the 15.3% gain forecasted. The weak data increases speculation that the Bank of Japan might have to provide additional stimulus, which would not be helpful for the yen. The dollar inched up to a high of 102.64 yen, [..]