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USD/JPY rises back above 156 again after US PPI data slightly beats forecasts
The US PPI and jobless claims data have just hit the screens. Jobless claims were a little below forecasts, but not by very much. Producer Prices (PPI) rose more than expected in the annualised core and non-core rates, by 0.1% on each count. The USD/JPY has reacted immediately to these reports and lifted back above the 156 handle. It had been falling back towards 155.75 just ahead of the release. US yields have risen on this news and that has helped to push the dollar immediately higher. we know have to see if this dollar reaction will extend, or not. The USD/JPY is currently trading at 156.11
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