Yen trades steady as investors await series of Chinese data that will offer details on the state of world’s second-largest economy through the end of September, when the U.S. escalated the ongoing trade war. The Bank of Japan will probably leave bond purchases unchanged at Friday’s regular operation.
USD/JPY little changed for the day and week at 112.20; pair touched 111.63 on Monday, its lowest since Sept. 13, after falling 1.3% last week.
Below-forecast Chinese data could trigger selling in risk assets, given that investor sentiment remains highly sensitive amid concerns over U.S.-Saudi geopolitical risks and Italian fiscal woes, says Masayasu Yoshida, market manager at Shizuoka Bank in New York.
Source : Bloomberg