The Japanese Yen (JPY) falls further to 156.00 against the US Dollar (USD) in Monday’s European session.
The Japanese Yen drops further as investors remain uncertain about BoJ extending the policy normalization process. Japan’s economy is estimated to have contracted by 0.4% in the January-March period, exhibiting a weak start to the year. The US Dollar will dance to the tunes of the US consumer and producer inflation data. The Japanese Yen falls further to 156.00 against the US Dollar in Monday’s European session.
6% from the prior reading of 3.8%. Hot inflation data will offset investors’ optimism for Fed rate cuts in September built on easing labor market data. On the contrary, soft inflation figures will strengthen investors’ confidence in the Fed reducing interest rates from September. Traders could raise bets for the Fed to start lowering borrowing rates in July if the inflation data decelerates more than expected.
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