USD/JPY Moves Down

USD/JPY is trading at 123.54, up 0.27. The early gains have eroded.

Market chatter about U.S. economic data and possible comments from the U.S. Federal Reserve statement on Wednesday has kept both buyers and sellers active. Japan Retail Sales data for June is due out this evening at 7:50 p.m. ET. Thursday evening CPI data is set for release by the Ministry of Internal Affairs and Communications.