USD/JPY bounced in early Friday trading, catching a ride to the 157.00 handle from a near-term low of 156.40.
USD.JPY recovers from intraday lows near 156.40. Tokyo CPI inflation bounces from two-year lows in May. Investors look ahead to key US inflation data on Friday. Japanese Tokyo Consumer Price Index inflation bounced early Friday, paving the way for investors to pivot towards Friday’s US Personal Consumption Expenditures Price Index inflation print. Japanese Tokyo Consumer Price Index inflation printed higher in May, climbing 2.
3% MoM as investors hope for enough easing in US economic figures to prompt a rate cut from the Federal Reserve . According to the CME FedWatch Tool, rate markets are pricing in better-than-even odds of at least a quarter-point rate trim from the Federal Open Market Committee when the rate-setting arm of the Fed meets in September. USD/JPY technical outlook USD/JPY found a quick bump into the 157.00 handle early Friday, but the pair is receding back into familiar congestion near 156.80.
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