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USD/JPY ISM rebound dented by US stocks falling further into the red
The US August ISM manufacturing index has just been released. The index has risen to 47.2, which was slightly shy of market expectations, but above the prior reading of 46.8. The component which does stand out the most here is that on prices paid. They have lifted to 54 from 52.9. The markets were forecasting a fall to 52.5. The dollar has lifted versus Europe on this news and it was already off its earlier lows versus the Yen prior to the release. The USD/JPY traded to a low at 145.10 ahead of the data. It has pushed back towards 145.50 after it. The USD/JPY is currently trading at 145.30 and perhaps one reason why it might not be higher is seen when we cast an eye onto the US stock markets, which are even deeper in the red now following this release
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