The Japanese yen strengthened against the dollar on Friday ahead of data on leading economic trends, while the Australian dollar was mixed following testimony to parliament by central bank Governor Glenn Stevens.At 1400 (0500 GMT), Japan's Jan Indices of leading, coincident and lagging indicators are due. This would be followed an hour later (0600 GMT) by the release of the ESP Forecast Survey of economists on GDP, CPI and BOJ policy.The government will maintain its assessment that the economy is "improving" based on the coincident composite index, which is expected to post a fifth straight month-to-month gain in January, up around 2.6 points. Meanwhile, the leading composite index is also forecast to mark a fifth consecutive rise in January, up about 1.4 points, indicating that the economic recovery remains solid in the three months ahead.
Earlier Stevens said the exchange rate is "high by historical standards" after reaching $0.9113 overnight on solid retail sales and trade data on Thursday, the highest level traded since Dec. 11 2013.AUD/USD traded at 0.9090, up 0.01%. USD/JPY traded at 102.98, 0.09% with the greenback gaining after overnight weakness.The China National People's Congress until March 13 remains a key background focus for markets in Asia.
http://www.investing.com/news/forex-news/forex---yen-gains-against-dollar,-aud-mixed-after-stevens-remarks-270924
Earlier Stevens said the exchange rate is "high by historical standards" after reaching $0.9113 overnight on solid retail sales and trade data on Thursday, the highest level traded since Dec. 11 2013.AUD/USD traded at 0.9090, up 0.01%. USD/JPY traded at 102.98, 0.09% with the greenback gaining after overnight weakness.The China National People's Congress until March 13 remains a key background focus for markets in Asia.
http://www.investing.com/news/forex-news/forex---yen-gains-against-dollar,-aud-mixed-after-stevens-remarks-270924