The yen slipped past 147.80 against the dollar while other major currencies moved within tight ranges.
Key moves
- USD/JPY crossed 147.80, the first rise above 147.30 since early August.
- The yuan strengthened to its strongest level against the dollar since November.
- Australia’s July CPI rose 2.8% year‑on‑year, higher than the 2.3% forecast.
- China’s industrial profits fell 1.5% year‑on‑year in July, the third consecutive monthly decline.
- Japan’s chief trade negotiator Akazawa will return to Washington for talks on Japanese investment.
Summary
With the yen weakening and the yuan gaining, the currency market remained largely range‑bound. The stronger Australian inflation dampens near‑term RBA rate‑cut expectations, while China’s continued profit contraction signals persistent demand weakness.
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