Japan Retail Trade for November: 1.9% m/m (vs. expected +1.0%)

• Retail Trade for November m/m: 1.9% (vs.expected +1.0%, prior -0.9% (revised up from -1.0))
• Retail Trade for November y/y: 4.0% (vs. expected is 3.0%, prior 2.4% (revised up from 2.3))

While earlier household spending data was weak, the retail sales data is better than expected.

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USD/JPY had popped to a new high of 104.93 (highest since October 2008, EUR/JPY also to new high since October 2008), but is encountering sellers ahead of and around 105.00