Japan: Weak PMI data numbers reported - BBH

Japan's flash manufacturing PMI slowed to 52.0 from 53.1 in May which is the lowest reading since last November and represents twice the decline that was expected, notes the analysis team at BBH.  

Key Quotes

“Weaker output (52.1 vs. 54 in May) and a decline in new orders to their lowest level in seven months were notable drags.  Still, the dollar remains within this week's range against the yen that was set in the first two days of the week (~JPY110.75-JPY111.80).  We note there is near $1 bln of options struck between JPY111.30-JPY111.50 that are expiring today.”