USD/JPY edges a little lower after US yields slip on US Q1 data

The final revisions to US Q1 GDP and the PCE deflator have just been released. The markets were not expecting much in the way of revisions to any of this data, as of course it had been revised already. Well, GDP was revised slightly higher, to 1.4% and the PCE core prices were also revised higher and that means inflation was running hotter than previously estimated. Ahead of all this the EUR/USD was just nosing its way back above the 1.0700 handle, which is something it could not do yesterday afternoon. The impact of this news has not actually sent it lower. The USD/JPY has edged down too and it seems that reason for that seems to lie with consumer spending falling back to 1.5%, from 2%. That said none of the reactions to this in terms of FX is exactly significant at this stage. US stock futures have lifted in conjunction with a slight fall back in the dollar as those US yields slip. The USD/JPY is currently trading at 160.46