Investing.com - The Japanese yen strengthened in Asian trade Friday after a rich set of data on prices, jobs and industry painted a picture broadly in line with Bank of Japan sentiment that the economy is recovering moderately.
USD/JPY traded at 102.28, down 0.03%, after the slew of data releases.
Japan's core consumer price index (excluding perishables but including energy) rose 0.9%, right on the forecast, on year in October, marking the highest gain since a 1.0% increase in November 2008 as firms pass on higher import costs on a weaker yen.
The data may be welcomed by a majority of Bank of Japan board members as a sign that aggressive monetary easing is working to bring on sustained annual inflation of 2% by 2015 - but other board members say there are downside risks, including whether higher wages will occur next year.
Japan's seasonally adjusted average unemployment rate stood at 4.0% in October, unchanged from September, but a tad higher than 3.9% forecast as labor demand improves on stronger consumption growth and public spending.
October industrial production rose 0.5%, well below a forecast to gain 2.0% month-on-month.
AUD/USD traded at 0.9076, down 0.29%, after private sector credit for October met the forecast of a gain of 0.3%, but disappointed as other personal credit and business credit remained weak with the data not seen as a hindrance to another cut in the cash rate from a record low 2.5%.
Overnight the dollar traded at six-month highs against the yen and the euro was close to one month highs against the dollar in thin trade.
The U.S. dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, traded at 80.63-0.10-0.12%.
USD/JPY traded at 102.28, down 0.03%, after the slew of data releases.
Japan's core consumer price index (excluding perishables but including energy) rose 0.9%, right on the forecast, on year in October, marking the highest gain since a 1.0% increase in November 2008 as firms pass on higher import costs on a weaker yen.
The data may be welcomed by a majority of Bank of Japan board members as a sign that aggressive monetary easing is working to bring on sustained annual inflation of 2% by 2015 - but other board members say there are downside risks, including whether higher wages will occur next year.
Japan's seasonally adjusted average unemployment rate stood at 4.0% in October, unchanged from September, but a tad higher than 3.9% forecast as labor demand improves on stronger consumption growth and public spending.
October industrial production rose 0.5%, well below a forecast to gain 2.0% month-on-month.
AUD/USD traded at 0.9076, down 0.29%, after private sector credit for October met the forecast of a gain of 0.3%, but disappointed as other personal credit and business credit remained weak with the data not seen as a hindrance to another cut in the cash rate from a record low 2.5%.
Overnight the dollar traded at six-month highs against the yen and the euro was close to one month highs against the dollar in thin trade.
The U.S. dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, traded at 80.63-0.10-0.12%.