The USD/JPY pair has risen to 150.16, driven by US inflation figures and a positive consumer outlook. Federal Reserve officials Bostic and Daly have expressed caution about rate cuts and urged patience before the Fed begins its easing cycle.
The Producer Price Index report shows inflation in the US is stickier than expected, with the headline and underlying PPI exceeding consensus and previous month’s reading.
However, the Consumer Sentiment report shows Americans remain optimistic about the economic outlook, despite upward revising inflation expectations for one year.
Technically, the USD/JPY is neutral to upward biased, with buyers needing to lift the exchange rate above 151.00 before challenging 152.00.
Tags Bostic daly FED inflation PPI report usd/jpy
Check Also
RBA Holds Rates Steady, Signals Prolonged Tight Monetary Policy Amid Persistent Inflation
The Reserve Bank of Australia (RBA) maintained its benchmark interest rate at 4.35% on Tuesday, …