USD/JPY lifts following US better than expected US consumer confidence index

The August reading of US Consumer Confidence and the Richmond Fed manufacturing index have just this minute been released. The markets were expecting Consumer confidence to come in a little stronger this month- 100.7 versus 100.3 was the forecast. The Richmond Fed index was expected to show a modest improvement as well- to -14 from -17 in July. Well, the Richmond fed index missed, falling to -19 and Consumer Confidence is markedly higher, at 103.3 and that is quite a beat. So, the upshot from that lot has seen the USD/JPY lift, as it takes the positive out of the confidence data. Prior to this the USD/JPY had fallen very close to setting a new session low. In the event, it has just managed to avoid that. The Asian low was at 144.22 and the low this afternoon has so far been set at 144.24. The dollar has managed to push back above 144.40 following this data, but it remains to be seen if it can extend upon that move.