Forex – Yen Gains Slightly In Early Asia Ahead Of Machinery Orders, EUR/USD Up

© Reuters. Yen gains in Asia – The yen gained against the dollar in early Asia on Wednesday ahead of machinery orders data as inched up as Catalonia’s president Carles Puigdemont fell short of declaring independence from Spain.

In Japan, core machinery order are due for August with a 1.1% gain expected and an 0.8% increase .

changed hands at 112.43, down 0.01%, while was flat at 0.7777. EUR/USD rose 0.02% to 1.1810.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted down 0.49% to 93.09.

Overnight, the dollar fell against a basket of major currencies on Tuesday pressured by a surge in the euro following data pointing to underlying strength in the euro zone economy.

It was a quiet day for U.S. top tier economic data investor demand for safe-haven currencies like the yen and Swiss franc remained elevated amid ongoing geopolitical uncertainty on the Korean Peninsula.

Also weighing on the greenback was a rally in the euro after bullish trade data raised expectations of European Central bank monetary policy tightening amid comments from an ECB official on Monday.

Germany, the Eurozone’s largest economy, revealed better-than-expected trade data as its trade balance expanded to 21.6 billion, beating economist expectations of 20 billion.

Sabine Lautenschlaeger, a member of the European Central Bank executive board, urged the ECB to roll back asset purchases in 2018.

Sterling, meanwhile, added to recent gains against the greenback rising on the back of manufacturing and industrial data that topped expectations.

Total production output in the industrial sector was 1.6% higher in August than a year before, against expectations of a 0.8% rise, while manufacturing output rose 2.8%, topping forecasts of a 1.9% increase.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.