Highest reading on the Philly Fed since March 2011

  • Prior reading was 12.5 (no revision)
  • New orders 10.2 vs 16.6 prior
  • Employment 7.7 vs -5.4 prior (highest since April 2012)
  • Prices paid 21.5 vs 22.5 prior

Separately, US July leading indicators 0.0% vs 0.2% exp. Prior revised to +0.2% from +0.1%.

USD/JPY breaks 100.50, where a layer of exporter offers were sitting. Strong offers at 100.80 with more at 100.90/101.00.