Yen resumes rebound from three-week trough against dollar

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Yen resumes rebound from three-week trough against dollar
Dollar tilted lower in Asian trade off November 13 highs for the fifth session out of six, in a day that lacks major data releases from Japan and ahead of US labor and services data.

As of 05:52 GMT, USD/JPY shed 0.42% to 112.72, with an intraday low at 112.58, and a high at 113.21.

Japanese Prime Minister Shinzo Abe said on Wednesday that the sales tax will by raised in accordance with the law to be put up next year, asserting his work towards a strong economy that can ride out global tensions.

Investors now await US data on private sector employment, expected with an addition of 195 thousand last month, down from 227 thousand in October.

The productivity gauge is estimated with a 2.3% increase, up from 0.9% in the second quarter, while labor costs are estimated with a 1.1% increase, compared to a 1.0% drop before.

US unemployment claims are expected to have slipped to 226 thousand, while continuing claims are expected with a 15K drop to 1.695 million.

The ISM services PMI is expected to have slipped to 59.1 in November from 60.3, while factory orders are estimated with a 1.9% decline, compared to a 0.7% increase in September.


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