USD/JPY touches 112.46
USD/JPY is back to the best levels since Thursday.
On Friday, the pair fell after weak CPI data but talk of John Taylor as Fed chair lifted it yesterday and it's grabbed a renewed bid in the past 30 minutes as part of a broad US dollar climb.
Greg noted a bit of resistance at 112.54.
Industrial production is forecast to rise +0.3% m/m after a 0.9% fall in August. The miss could be especially wide because of the effects of Hurricane Harvey and variously-timed refinery restarts. The August data could also be revised significantly.
With so much skew from the storms, I would be wary of any headline-kneejerk.
