The Japanese yen and US dollar traded in a narrow range today, but near its highest level in three days.

Though positive economic data out from the US yesterday has seen a return in risk appetite, the US dollar lost some momentum against the Japanese yen before the year end. While the Japanese will celebrate the Emperor’s birthday today, the US will see a slew of economic data released. At 1.30pm (London time) the US releases durable goods orders for November with a forecast of 2.1%, after as previous reading of –0.7%. At the same time personal income for November is expected to slow to 0.3% from 0.4%, while personal spending is expected to come in at 0.4% from the previous 0.1%.

The core personal consumption expenditure for November is expected to be in line with the previous rise of 0.1% on the month and 1.7% on the year. At 3pm (London time) new home sales figures for November will hope to show that the sector is continuing to improve, by rising 1.8%.