Japanese yen weaker in early Asia Investing.com – The yen was a tad weaker in Asia on Wednesday ina light data day with services PMIs in Australia and China on the cards.
changed hands at 119.10, up 0.08%, while traded at 0.7164, up 0.01%.
In Australia, the for December came in at 46.3, down from 48.2. A reading below 50 signal contraction. Ahead, the for December is due with a reading of 52.3 expected.
The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was flat at 99.47.
Overnight, the dollar pushed broadly higher against the other major currencies on Tuesday, as dowbeat euro zone inflation data, concerns over Chinese growth and mounting tensions in the Middle East continued to weigh on market sentiment.
Demand for the safe-haven yen persisted after data on Monday showed that China’s fell to 48.2 this month from 48.6 in December.
It was the lowest reading since September and was well below the 50-point level which separates expansion from contraction. Markets were also jittery amid concerns over growing tensions in the Middle East after Saudi Arabia executed a prominent Shi’ite cleric, prompting a retaliatory attack on the Saudi embassy in Iran.
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Foreign exchange - Yen weaker in early Asia with providers PMIs in Australia, China
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