Yen crosses well bid as Japan¡s Ind prod disappoints

FXstreet.com (Barcelona) - The Yen has just caught a offer tone after Japan's Industrial Production (MoM) came much worse-than-exected at -3.3% vs -1.5% exp and 1.9% prior. On a yearly basis, the reading was -4.8% vs -2.6% exp, -1.1% prior.

The reaction to the upside in all Yen crosses suggests the downbeat data poses more risk of potential easing by the BoJ if the sequence of disappointing numbers continues. According to Haruya Ida from IFR Markets: "USD/JPY likely to be somewhat better bid on today's data", adding that "BoJ likely to be easier for longer, although data not weak enough for more ease."