US NFIB rises more than forecast but USD/JPY edges lower

The October NFIB small business optimism index has just been released and it has beaten forecasts. The index stood at 91.5 in September and was forecast to rise to 92. It has just been released at 93.7 and that is its best level for a few months. It would not be a surprise if this was to rise further in November following the US election outcome. That said, this is still positive outcome, but as is often the case, it has not had an immediate impact on the dollar. Mind you, the US currency was elevated heading into this data. The USD/JPY has not gotten above where it was at the time of the past update on its progress. In fact, it has just now slipped back underneath the 154 handle. Irrespective of that, this was still encouraging data for the US currency