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USD/JPY at session lows after Philadelphia Fed non-manufacturing index below estimates
The February Philadelphia Fed non-manufacturing index has been released now and it was lower than most estimates and below the previous reading of -3.7. The index stood at -8.8 in February. So, the dollar has reacted negatively to this news versus the European currencies and lower versus the Yen too. The USD/JPY has just tested 150.00 exactly after the release, which granted is not a massive downside reaction. US yields are lower on the news too and so the Yen might yet grind higher, if it can take out that 150 handle, but for now it seems to be capping the downside. The USD/JPY is currently trading at 150.06
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