18 Jun 2015
USD/JPY drifts lower after US CPI data
FXStreet (Córdoba) - USD/JPY pushed a tad lower and printed fresh 8-day lows following the latest string of US economic data.
Initial jobless claims dropped to 267K last week, below the 275K expected, while current account deficit shrinked slightly to $113.3 billion in Q1 versus $117.0 billion of consensus. Meanwhile, consumer prices rose by 0.4% in May, the biggest gain in more than 2 years, but below the 0.5% rise expected. Excluding food and energy, so-called core CPI, rose 0.1% in May below 0.2% of consensus. Over the past 12 months CPI was flat (+0.2% exp) and core CPI rose 1.7% (1.8% exp).
USD/JPY slid to a low of 122.49 but quickly managed to return to pre-data levels and it was last trading at 122.65, still 0.62% below its opening price.
The dollar remains weak as investors continue to assess yesterday’s FOMC meeting. The Fed decided to leave monetary policy unchanged and Yellen echoed its recent rhetoric.
Initial jobless claims dropped to 267K last week, below the 275K expected, while current account deficit shrinked slightly to $113.3 billion in Q1 versus $117.0 billion of consensus. Meanwhile, consumer prices rose by 0.4% in May, the biggest gain in more than 2 years, but below the 0.5% rise expected. Excluding food and energy, so-called core CPI, rose 0.1% in May below 0.2% of consensus. Over the past 12 months CPI was flat (+0.2% exp) and core CPI rose 1.7% (1.8% exp).
USD/JPY slid to a low of 122.49 but quickly managed to return to pre-data levels and it was last trading at 122.65, still 0.62% below its opening price.
The dollar remains weak as investors continue to assess yesterday’s FOMC meeting. The Fed decided to leave monetary policy unchanged and Yellen echoed its recent rhetoric.