USD/JPY finds intermediate support near 138.50, downside seems favored as US PPI softens – by Sagar_Dua24 USDJPY PPI Inflation Fed DollarIndex
has softened more than expected.
After the soft inflation report, a significant decline in factory gate prices indicates that price pressures are declining broadly. Also, households’ demand has dropped sharply which has forced producers to grip retail prices. Apart from the PPI report, weekly Initial Jobless Claims have also been released for the week ending July 07. The US Department of Labor has reported that first-time claimers were 237K vs. expectations of 250K and the former release of 249K.
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