USD/JPY Lower, Bank Lending Stable

USD/JPY is trading at 101.53, down 0.31 The pair is trading a little above the session lows. Market talk about global headline news and Japanese economic data is making the rounds. The Bank of Japan (BOJ) reported that bank loans increased by 2 percent year over year in August following a 2.1 percent rise in July. Japan's Cabinet Office reported that gross domestic product (GDP) rose 0.2 percent in the second quarter versus 0.5 percent expansion in the first quarter. Annualized gross domestic product (GDP) was 0.7 percent in the second quarter of versus 2 percent in the first quarter. Gross Fixed Capital Formation (CAPEX) in Japan fell 0.1 percent versus a fall of 0.7 percent in the first quarter. Private consumption rose 0.2 percent versus a rise of 0.7 percent.