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USD/JPY jumps above 142.25 after core US CPI rises more than forecast in August
The August US CPI report has just been released. The markets were expecting an unchanged core annualised rate of 3.2%. The non-core rate was forecast to fall from 2.9% to 2.6%. The actual data has shown that the core rate was as expected. The non-core rate fell to 2.5%, but the monthly core rate rose above forecasts, by 0.3%. Ahead of this the USD/JPY had pushed back above 141.70 in what looked like a squeeze of immediate short positions through that level. Prior to the CPI release the high had been set at 141.86. The reaction to the CPI report has seen it jump above 142.25
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