Confidence among Japanese manufacturers hits 2013 low

Confidence among Japan's manufacturers plumbed its lowest levels since 2013 in the face of a stronger currency and torpid consumer spend, according to Reuters's Tankan survey.

The poll was designed to anticipate changes in the Bank of Japan's own Tankan, for short-term in Japan, business confidence gauge.

A gauge of service sector confidence derived from a poll among 275 big and mid-sized firms broke a four-month fall, which only illustrated fragility, rather than strength, the newswire said.

Some service sector firms complained the appreciation in the yen had robbed them one of the few bright spots they were enjoying, spending by consumers.

Economy uncertainty and sluggish wage growth had depressed consumer sentiment over the past two months, leading to less spending even on everyday necessities.

As of 11:21 BST dollar/yen was higher by 0.27% to 100.18.