Yen steady at 147; poised to end up 3% in August

The Japanese yen held near 147 per dollar on Friday and is set to end August with a 3% monthly gain, even as it moved sideways for much of the month. Investors digested mixed data, as July industrial production and retail sales undershot forecasts, while Tokyo’s core inflation stayed above the BOJ’s 2% target. On the labor front, the unemployment rate eased to 2.3% from 2.5%, highlighting strong job conditions. The BOJ at its July meeting kept rates steady but raised inflation forecasts and struck a more upbeat tone on growth.