USD/JPY Moves Down, PPI Stable

USD/JPY is trading at 101.29, down 0.64 The pair is trading just above the session lows. Trading is choppy. Market chatter about global headline news, money flows and economic data is making the rounds. Japan's Cabinet Office reported that year over year producer prices (PPI) fell 3.9 percent in July versus a 4.2 decline in June. On the month PPI was flat. The office also reported that Machinery orders rose 8.3 percent in June compared to a 1.4 percent fall in May. Year over year machinery orders decreased by 0.9 percent, following a 11.7 percent decline in May.