Investing.com - The dollar was lower against the broadly stronger yen on Thursday as losses in Japanese equities markets overnight bolstered demand for the safe haven yen.
USD/JPY hit 99.21 during late Asian trade, the lowest since September 6; the pair subsequently consolidated at 99.46, shedding 0.43%.
The pair was likely to find support at 98.53, the low of September 6 and resistance at the key 100.00 level.
Japan’s Nikkei was lower after data on Thursday showing that Japan’s core machinery orders were unexpectedly flat in July dented optimism over the economic recovery.
The dollar remained under pressure after data late last week showing that the U.S. economy added slightly fewer jobs than expected in August.
The soft data raised some doubts over whether the Federal Reserve will start to unwind its USD85 billion-a-month asset purchase program at its upcoming policy meeting on September 17-18.
The yen was also higher against the euro, with EUR/JPY down 0.51% to 132.29.
The euro zone was to release data on industrial production later in the day and investors were awaiting a speech by European Central Bank President Mario Draghi. The U.S. was to release data on jobless claims.
