Japanese Yen Soft After Mixed Data Despite Risk Aversion

The Japanese yen was soft today despite mild risk aversion among Forex traders. Domestic macroeconomic data was mixed, providing no aid to the currency.
Household spending rose 0.1% in real terms in July over the year instead of falling 0.9% as analysts had predicted. Average cash earnings rose 1.5% in July from the same month a year ago, missing the analysts’ average estimate of a 2.4% increase. The leading index slipped from 104.6 in June to 103.5 in July, in line with expectations.
USD/JPY opened at 110.72, fell to the low of 110.38 intraday, but bounced and was at about 110.84 as of 11:12 GMT today. GBP/JPY climbed from 143.00 to 144.18.

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