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USD/JPY edges above 158 in a latent reaction to the US NFIB data
Since the last update here noted the lack of immediate reaction in the dollar to the much better than forecast NFIB index, the dollar has now lifted. The gains have come across the board. The GBP/USD and EUR/USD are now lower and the USD/JPY has pushed a little more convincingly above the 158 handle. The gains in the dollar come ahead of the December PPI report, which looms ever closer now, at 1.30pm GMT. The markets are expecting annualised core Producer prices to have risen last month, by 3.8%, from a 3.4% rise in November. The high seen on the USD/JPY just now was set at 158.13. It is currently trading at 158.04
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