USD/JPY Trading Sharply Higher, Japan Machine Tool Orders Fall

USD/JPY is trading at 102.27, up 1.77. The pair is trading at the highs of the session. Trading is active. Market chatter about global money flows and weekend headline news is making the rounds. Japanese Prime Minister Shinzo Abe said his government will put forth news measures to boost Japan's economy after a victory for his ruling coalition during Sunday's Upper House election. Japan's Machine Tool Builders Association (JMTBA) reported that year over year machine tool orders fell 19.9 percent in May versus a decline of 24.7 percent in April. Japan's Cabinet Office reported that machinery orders slipped 1.4 in May compared to a 11.0 percent fall in April. Year over year machinery orders decreased by 11.7 percent, following a 8.2 percent decline in April.