US initial weekly jobless claims beat but Philly Fed misses badly- USD/JPY slips

The latest weekly jobless claims and Philadelphia Fed business index have just been released. The weekly claims data has shown slight fall to 215k from a previous reading of 223k. So, that was quite good news, but the Philadelphia fed index has fallen back markedly, to -26.4. The markets had expected a reading above +12. That was really weak and it has sent the dollar back down somewhat. Leading into this data the USD/JPY had been hugging a pretty tight range over the past few hours with 142.50 to 142.70 pretty much covering the price action. The reaction to this data has seen it  fall just below 142.40 as the EUR/USD lifts from a low just underneath 1.1340