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USD/JPY slides again after US PPI falls by more than expected

The May US Producer Price Index (PPI) has just been released and it has fallen by more than expected. The index has actually fallen by 0.2% last month and the core rate has also fallen more than forecast, by 2.3% which was below the 2.4% forecast. The dollar has fallen back on the news. The EUR/USD has jumped back above 1.08 and towards 1.0815. The USD/JPY is lows too, falling back underneath 157 and towards 156.50. Gold has lifted on the news, snapping the earlier downside run as US yields turn lower once more. The US 2 year yield is now below 4.70% again after this news. The USD/JPY is currently trading at 156.60 

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