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USD/JPY slides below 150 after US flash services sector PMI data slumps below 50
The February US flash manufacturing and service sector PMI data has now been released. As noted in the previous update, the markets were looking for a slight improvement in both sector readings. Well, that is just what showed up. on manufacturing, but it was a bad miss on services. That index fell below 50. The markets were expecting a number around 53 and it has fallen to 49.7. Ahead of this the USD/JPY had fallen back and set a new European low, at 150.12. That was after a series of failed attempts, to climb back above 150.50 since the previous update on the price action. The USD/JPY was trading at 150.14 leading into this data release. The impact of that has seen it slide immediately below the 150 handle. The USD/JPY is right now at 149.80
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