JPY: Machine orders surged by strongest pace in more than a year - BBH

Research Team at BBH, notes that the Japan reported that the August machine orders fell 2.2% or half of what the median forecast while the year-over-year pace jumped to 11.6% from 5.2% in July. 

Key Quotes

“This is the strongest pace in more than a year.  This follows news early this week indicating that Japan's external account (balance of payments) continues to improve.  Unlike yesterday, the dollar has shied away from the JPY104.00 level and is consolidating in subdued activity around JPY103.60.  The market does not appear to be done probing the dollar's upside against the yen.  The ceiling that needs to be overcome is marked by last week's high (~JPY104.15) and the September high (~JPY104.35).”