Japanese industrial output drops in June.

Japanese industrial production unexpectedly dipped in June by 3.3% on month, trailing expectations for a 1.7% drop. A decline in the production of transport equipment, including autos, led the fall, followed by electronics and machinery. However, manufacturers offered an upbeat outlook for July, with a survey showing they expect growth of 6.5%, up from 3.3% projected in last month's print.