The JPY has firmed during overnight Asian trade, USD/JPY down at 96.65 from a North American close Monday around 97.15, while EUR/JPY is down at 136.65 from around 137.30.
The JPY has benefitted from disappointing Chinese data. Industrial output for July came in +10.9% y/y, lower than the expected +11.7%, while July exports dropped -23% y/y, worse than the expected -21.4%.
Quite a few European data releases this morning , but none I have to say the type to ellicit a marked reaction from the market.
05:45 GMT: Swiss SECO consumer climate (July)
06:00 GMT: German CPI July-final -0.1% m/m, -0.6% y/y, EU harmonised flat m/m, -0.6% y/y
06:00 GMT: German wholesale price index July +0.3% m/m, -9.7% y/y
06:45 GMT: French central government balance June
08; 30 GMT: UK visible trade June -6.2 bln, non EU -3.4 bln, total trade 2.3 bln
08:30 GMT: UK DCLG house prices June expected -12.0% y/y
