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USD/JPY dips below 145 after CPI falls more than expected last month
The US March CPI report has just been released and it has missed on estimates. CPI fell by 0.1% last month. The annualised rate has fallen to 2.4% and the core annualised rate has fallen to 2.8%. Just ahead of this the dollar has been fallen back further. The EUR/USD was testing the 1.11 handle and the USD/JPY had extended its earlier fall below 146 closer to 145.25. It was trading around 145.35 leading into the release of this data. The reaction after has seen the dollar immediately fall further. The USD/JPY dropped immediately below the 1.45 handle as the EUR/USD jumps above 1.1125. The USD/JPY is right now at 145.02
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