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US Service sector ISM index better than expected on all counts- USD/JPY lifts
The eagerly awaited US April ISM service sector index has just this minute been released. As explained a few times earlier today, the markets were anticipating a lower reading for last month of 50.2, down from a prior reading of 50.8. The actual reading is 51.6 The prices paid component was forecast to rise slightly, from 60.9 to 61.4. It has actually risen to 65.1. New orders and employment are also well above consensus. This news has serf US equity futures higher and the USD/JPY has bounced immediately too. The USD/JPY was around 143.60 ahead of this report. it has just spiked above 144 on this news which is perfectly understandable, as US yields are also higher on this news. The USD/JPY is right now at 143.89
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