Accelerating Growth of Manufacturing Doesn’t Help Japanese Yen

The Japanese yen fell today even though Japan’s manufacturing sector was expanding with an accelerating pace this month.

The Nikkei Flash Japan Manufacturing PMI climbed from 52.8 in October to 53.8 in November. That is instead of falling to 52.6 as was predicted by analysts. The index stood at the strongest level since March 2014.

USD/JPY ticked up from 111.20 to 111.35 as of 8:30 GMT today, touching the high of 111.55 intraday. EUR/JPY opened at 131.76 and touched the daily high of 132.19 before trading at 131.97.

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