Not bad US PMI data helps dollar to lift- check out the USD/JPY again (corrected)

The US October flash PMI readings for services, manufacturing and the composite between the two have just been released. We noted earlier, how the markets were expecting slightly lower readings on all counts this month. Well, have just come mixed, with manufacturing beating the street, but services came in a little shy and that meant the composite reading matched forecasts. So, a mixed bag there, but nothing to really concern.

Ahead of this report the dollar was pretty steady and traversing the 1.12 handle in the EUR/USD and off earlier lows in the USD/JPY. Earlier this afternoon the USD/JPY traded as low as 156.32 not long after we reported it falling back. Well it was on the rebound leading into this flash PMI data and rising back above 156.60. The immediate reaction to the data has seen US yields rise and push the USD/JPY higher, currently trading at 156.68