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US Producer Prices rise above consensus-USD/JPY jumps to session highs

Data just released showed that US producer prices rose by 0.5% in April. The markets had expected a rise of 0.3%, compared to the gain in March of 0.2%. The core annualised rate was forecast to rise by 2.4%, compared to a prior rate at 2.4%. That has shaken the dollar tree, as has the non-core rate rising to 3.1%. So the US currency has lurched higher across the board, rising versus the Yen to 156.80 just now. That comes as US bond yields rise on the back of this news. However, the dollar is just paring those gains now, currently trading at 156.67

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