The yen edged lower versus the greenback Monday morning in New York. After gaining some ground in the early morning, the Japanese currency started to drift lower before 3:00 am ET. At 6:45 am, the yen traded at a mark of 117.84 against its American counterpart. Greenback traders looked ahead to Tuesday`s Federal Reserve rate decision, which is expected to remain at 5.25%.
Against the euro, the yen fell Monday morning in New York. The Japanese currency retreated just after 2:00 am ET, before leveling off after 3:00 am. At 6:45 am, the yen traded at a mark of 162.75 against its European counterpart. European currency investors mulled data showing that Italian industrial production fell 0.5% in July from the previous month. Analysts had been expecting a 0.3% slide.
The yen advanced against the sterling Monday morning in New York. The Japanese currency slid during the early morning, but more than rebounded with a climb just after 3:30 am ET. By 6:45 am, the yen rose to a mark of 239.27 versus its British counterpart. This is compared to an intraday low of 240.69 at 3:30 am. Traders considered data showing that U.K. industrial production climbed 0.1% in June over month, matching analyst expectations.
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