The Greenback rose against the Japanese Yen on strong ISM manufacturing and construction release. The USD/JPY exchange rate jumped 11 base points to touch 112.50 areas, ahead of the 22 pips gain on the FOMC meeting minutes release.
The US factory growth accelerated more than projected by the end of 2017, fuelled by stronger new orders’ growth, indicating solid economic momentum in the period. The Institute for Supply Management stated that its Manufactuirng PMI grew to 59.7 in the reported month, suggesting expansion in the sector. In the following FOMS meeting minutes report, the Fed polycimakers indicated that further rate increases would be guided by fiscal stimulus, consumer inflation.
