USD/JPY

U.S. CPI increased 0.2% last month after a similar gain in July. In the 12 months through August, the CPI increased 2.7%, slowing from July's 2.9% advance. Excluding the volatile food and energy components, the CPI edged up 0.1%. The so-called core CPI had increased by 0.2% for three straight months.

U.S. job growth accelerated in August strengthening views the economy was so far weathering the Trump administration's escalating trade war with China.

Nonfarm payrolls surged by 201k jobs last month, boosted by hiring at construction sites, wholesalers and professional and business services. The economy needs to create 120k jobs per month to keep up with growth in the working-age population.

The ADP National Employment Report showed private payrolls increased by 163k jobs last month. Data for July was revised to show private hiring rising by 217k jobs instead of the previously reported 219k positions. The market had forecast private payrolls increasing by 190k jobs last month. The ADP report was published ahead of the government's more comprehensive employment report for August, which is due on Friday.

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