JPY sees some marginal weakness in slow Asian trade

Overnight trade in Asia has seen the JPY come under a little pressure, USD/JPY up at 96.80 from a North American close Tuesday around 96.30, while EUR/JPY is up at 135.90 from around 135.10. A US bank is said to have been a decent buyer of USD/JPY.

The move comes with risk sentiment in ok shape. There were a number of encouraging data releases during the Asian session.

China’s manufacturing expanded for the fourth month in a row, PMI rising to 53.2 in June from 53.1 in May.

South Korea’s June exports fell 11.3% from a year earlier, the slowest pace in eight months, and better than general forecasts in the -12.4% to -21% range.

Australian May retail sales climbed 1%, much better than the median forecast of 0.5%.

Elsewhere there was some disappointment. Japan’s June tankan rose, but less than expected. Confidence among large manufacturers came in at -48, up from -58 in March, but below the median forecast of -43.