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Japan firms past ¥111 on solid industrial data

Asian currencies were mixed on Monday as strong industrial data out of Japan helped push the country’s currency to its strongest level in six weeks.

Japan’s yen strengthened past the ¥111 mark in the morning session to ¥110.43 per dollar after data showed industrial production climbing back into expansionary territory in July.

The Australian dollar was hovering below the $0.80 mark at $0.798 after dipping as much as 0.4 per cent on word that issuance of building permits in Australia shrank in June.

Outside the region the Canadian dollar was the worst performer, weakening to just shy of the C$1.25 per US dollar mark.

The US dollar index tracking the greenback against a basket of peers was up 0.1 per cent at 93.375. The yield, which moves opposite price, on 10-year US Treasuries was up 1 basis point at 2.28 per cent