USD/JPY rebounds from 136.50 as Tokyo Inflation softens heavily, US Services PMI eyed – by Sagar_Dua24 USDJPY Fed ECB Inflation PMI
USD/JPY has picked strength near 136.50 as Tokyo Inflation has softened amid lower energy and food prices.Fed Bostic but has left room opened for more hawkish rate outlook if data comes in stronger.has witnessed buying interest after dropping to near 136.50 in the Asian session. The asset has picked strength as the Statistics Bureau of Japan has conveyed that Tokyo Consumer Price Index softened heavily in February.
A decline in headline Tokyo inflation indicates that the impact of higher energy and food prices has started fading now, therefore, it could be considered that Tokyo inflation has peaked for now. It is worth noting that the novel Bank of Japan leadership has been favoring current monetary policy, which is expansionary in nature, as inflation is coming from international forces and not from domestic demand.
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