Session Recap: Yen weakness the main theme

FXstreet.com (Córdoba) - The theme of the day has been yen weakness, as reports of corporate tax cuts to offset sales tax hike helped Nikkei higher and put the currency under pressure. USD/JPY extended its recovery into a second day from below 96.00 to above 98.00.

Meanwhile, the euro and pound are roughly stable against the dollar, hovering around 1.3290 and 1.5450, respectively after the August German ZEW survey was positive and UK July CPI was a touch above expectations.

Main Headlines in Europe:

Overall bullish sentiment in Asian stocks

Germany: Annual CPI grows 1.9% in July, as expected

Germany: Wholesale Price Index drops 0.3% in July

Spain: Annual inflation rises 1.8% in July

UK: Annual CPI up 2.8% in July

UK: Annual PPI – Output rises 2.1% in July

UK: Annual Retail Price Index grows 3.1% in July

EMU: Annual Industrial Production grows 0.3% in June

Japanese yields fall while Yen depreciates