The Greenback extended losses against the Yen, as the US Building Permits report disappointed market expectations. The USD/JPY dropped by 5 base points to 110.77 mark just after the report and continued to gain advantages from the weaker US Dollar to finish the session in 109.99 area, following the FOMC meeting minutes release.
The Commerce Department revealed that the US Building Permits fell 4.1% to 1.22M units in July, suggesting the least contribution to the country’s economic expansion anytime soon. Meanwhile, the FOMC minutes release showed that the Fed policymakers were split over the pace of interest rate increases as uncertainties over the inflation growth remained on the table.
