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Japan data – Industrial Production (July, preliminary): -0.8% m/m (expected -0.3%)

Japanese factory output data for July

-0.8 % m/m … much worse than expected
– expected -0.3% m/m, prior 2.2% 
4.7% y/y … ditto
– expected 5.2% y/y,
USD/JPY had traded a little higher in the 45 minutes odd leading up to the data release. On the face of it the headline results are weak and