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USD/JPY jumps back above 143.50 after US Services ISM index beats forecasts
The July US ISM service sector index has just been released and it has beaten forecasts, rising to 51.4 . As noted here earlier today, the markets were expecting quite an improvement, back into expansionary territory above 50. The consensus was for a rise to 51, from a prior reading in June of 48.8. All the components of the index have also beaten forecasts. Ahead of this report the USD/JPY was once again trying to lift off the lows. Earlier today the USD/JPY had fallen to a new interim low at 141.70, but had rebounded several times from below 142, in an effort to try and cap the downside momentum. The dollar was above 142.75 leading into this report. The impact of this data has pushed it sharply higher, rising above 143.50 on the news
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