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USD/JPY drops back after mixed US ISM and JOLTS data
The eagerly awaited first significant US data releases of 2024 have just now hit the screens. The December ISM (Institute of Supply Management) manufacturing index and the November JOLTS (Job vacancies) reports were expected to show an improvement on both their previous readings, as mentioned here in earlier updates this morning. The actual data has been a bit more mixed than that. The headline ISM beat forecasts, rising to 47.4, but the prices paid component was lower and so were the new orders. However, the employment component was better, at 48.1. The JOLTS data missed on estimates (for a rise to 8.821 million), only rising to 8.79 million. The reaction across the markets has seen the dollar fall back and US yields also come off the boil. The USD/JPY has fallen back below 143 following this news, currently trading at 142.92
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