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USD/JPY jumps above 152 as US CPI beats estimates
The details of the US March Consumer Price index (CPI) report has now hit the screens. As noted here earlier this morning, the markets were looking for an increase in the annualised rate, but at the same time, a slight reduction in the annualised core rate. Well, that is not exactly what showed up. The annualised rate rose to 3.5% and the core rate remained unchanged at 3.8%. The monthly rates were higher than forecast too . Ahead of this release the markets were pricing the timing of a first Fed rate cut for July, having pushed that back from June. This data has served to push that back further. The dollar was slightly lower coming into this data. The USD/JPY has now jumped above that 152 handle on this news. The dollar is right now trading at above 152.40 as this data eclipses any fear of the BOJ for the time being
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