The Japanese yen showed little reaction to the domestic CPI data released Friday that has risen to its highest point in seven months. The U.S. dollar gained but still hovered near two-month lows.<\/p>\n
The country\u2019s national\u202fConsumer Price Index<\/a><\/span>\u00a0<\/span>came in at 1.3%, beating the expected 1.1% and improved on the previous reading of 0.9%.The “core-core” CPI, which excludes food and energies prices, came in at 0.4%, also meeting expectations.Meanwhile, Japanese Prime Minister Shinzo Abe won his third three-year term as head of the ruling Liberal Democratic Party on Thursday.<\/p>\n The yen was little changed following the data, with the\u00a0<\/span>USD\/JPY<\/a><\/span>\u00a0<\/span>pair last traded at 112.75, up 0.1%.<\/p>\n The\u00a0<\/span>USD\/CNY<\/a><\/span>\u00a0<\/span>pair traded 0.06% lower to 6.8440 as the People’s Bank of China (PBOC) set the yuan reference rate at 6.8357 vs Thursday’s fix of 6.8530.<\/p>\n The\u00a0<\/span>AUD\/USD<\/a><\/span>\u00a0<\/span>pair slipped 0.05% to 0.7289, while the\u00a0<\/span>NZD\/USD<\/a><\/span>\u00a0<\/span>pair jumped 1.2% to 0.6692. Ratings agency S&P affirmed Australia\u2019s sovereign rating at AAA and raised the outlook from negative to stable on Thursday, an improved fiscal outlook and steady revenues supported by the strong economic data and relatively stable commodity prices were cited as the reasons for the upgrade.<\/p>\n Meanwhile, the\u00a0<\/span>U.S. dollar index<\/a><\/span>, which tracks the greenback against a basket of six major currencies, was up 0.04% to 93.51. Despite today\u2019s gain, the dollar struggled this week and dipped to 93.829 overnight, its lowest since July 9.<\/p>\n “Higher U.S. yields, particularly the two-year yield’s rise, has added further momentum to the dollar’s gains versus the yen ahead of next week’s Fed meeting,” Yamamoto at Mizuho Securities said.<\/p>\n","protected":false},"excerpt":{"rendered":" The Japanese yen showed little reaction to the domestic CPI data released Friday that has risen to its highest point in seven months. The U.S. dollar gained but still hovered near two-month lows. The country\u2019s national\u202fConsumer Price Index\u00a0came in at 1.3%, beating the expected 1.1% and improved on the previous Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[9,10,1],"tags":[],"class_list":["post-980","post","type-post","status-publish","format-standard","hentry","category-homepage","category-latest-news","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/980","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/comments?post=980"}],"version-history":[{"count":1,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/980\/revisions"}],"predecessor-version":[{"id":981,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/980\/revisions\/981"}],"wp:attachment":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/media?parent=980"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/categories?post=980"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/tags?post=980"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}