The yen is retreating again

Good morning!

The Japanese yen is falling again as markets gear up for some serious measures from Japan.

The currency is down by 0.5% at 105.87 per dollar as of 7:38 a.m. ET.

"...the key takeaway is that investors are anticipating new monetary and fiscal stimulus in Japan, and this is the driver of the yen's weakness and the equity surge," wrote Marc Chandler, the global head of currency strategy at Brown Brothers Harriman, in a note to clients.

As for the rest of the world, here's the scoreboard this morning:

• The second big story in FX is the British pound, which has been climbing up this week after cratering in the immediate aftermath of the Brexit vote. The currency is stronger by 0.4% at 1.3394.
• The US dollar index is little changed at 96.01 ahead of a busy data for economic data. CPI, Empire Manufacturing, and retail sales will all be released at 8:30 a.m. ET before University of Michigan consumer sentiment crosses the wires at 10 a.m. ET. The Baker Hughes rig count is set for a 1 p.m. ET release.
• The euro is little changed at 1.1131 after eurozone final CPI met expectations. Consumer prices in the eurozone held at up 0.1% YoY in June, according to Eurostat data. That was in-line with economists' forecasts and unrevised from the May reading. France (+0.3%) and Germany (+0.2%) saw prices rise while Italy (-0.2%) and Spain (-0.9%) saw them fall.

NOW WATCH: Brexit campaigners take to the water in bizarre flotilla battle

Please enable Javascript to watch this video