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USD/JPY sets fresh session lows as Philadelphia business index disappoints
The US data releases have just hit the screens. The weekly jobless claims numbers were forecast to come in at 215k in the latest reporting week. They have actually risen to 219k. The Philadelphia February Fed business index was forecast to fall to 20, from 40 in January. It has fallen to 18.1, but the prices paid component has risen and that has helped to push the dollar a bit higher. Ahead of this the USD/JPY had taken out the previous low, at 149.95 and set a new low at 149.79 The initial impact of these data releases has seen it lift back above 149.90 and it seems the prices paid component of the Philly Fed has been the reason for that, despite the new orders component falling at the same time. However, the dollar is now falling back again and setting fresh session lows at 149.71
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