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23 Apr 2015
USD/JPY retreats as US new home sales slump
FXStreet (Córdoba) - USD/JPY retreated from the 120.00 area as the dollar weakened after the latest string of US data showed new home sales dropped sharply in March while Markit manufacturing PMI missed expectations.
US new home sales fell 11.4% to an annual rate of 481,000 in March, pulling back from a 7-year high and below expectations of 513,000. Meanwhile, the Markit manufacturing PMI fell to 54.2 in April from 55.7 in March.
The dollar weakened and fell to a session low of 119.84 against the yen, but remained well within its daily range. At time of writing, USD/JPY is trading at 119.88, virtually unchanged on the day.
US new home sales fell 11.4% to an annual rate of 481,000 in March, pulling back from a 7-year high and below expectations of 513,000. Meanwhile, the Markit manufacturing PMI fell to 54.2 in April from 55.7 in March.
The dollar weakened and fell to a session low of 119.84 against the yen, but remained well within its daily range. At time of writing, USD/JPY is trading at 119.88, virtually unchanged on the day.