We haven't heard much out of Japan today:
- Japan Machinery orders for June 2024: 2.1% m/m (expected +1.1%)
- Japan's LDP will hold its leadership election on September 27
The USD has weakened across the major FX board, but its against JPY that is most notable.
On Friday USD/JPY fell towards 147.50. After trading above 148.00 in early Asia USD/JPY has now extended its down draft to lows just above 147.00. ..
There is no obvious smoking gun, apart from the continuation of the downtrend since 149.
