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Yen Little Changed After Manufacturing Misses Expectations

June 23, 2017 at 10:38 by Vladimir Vyun

Many Japanese coins on the banknotesThe Japanese yen was little changed today after a report from Markit showed that growth of Japan’s manufacturing sector slowed unexpectedly this month.



Flash Nikkei Flash Japan Manufacturing PMI fell from 53.1 in May to 52.0 in June. Economists predicted an increase to 53.4. Markit said in the report:



Slower growth was signalled in June, with both orders and output rising at the weakest rates since late last year amid reports of a slight softening in market conditions.

That said, external demand is holding up well, and the sector continues to operate within a solid growth range.

USD/JPY traded at 111.21 as of 10:36 GMT today, not far from the opening level of 111.31. CHF/JPY was flat at 114.49.

If you have any questions, comments, or opinions regarding the Japanese Yen, feel free to post them using the commentary form below.

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