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USD/JPY spikes above 146 as December CPI above forecasts

The eagerly awaited US December CPI report has just been released. The data has revealed a higher set of numbers in the annualised and core annualised rates. The core rate has come in at 3.9% annualised and non core has risen to 3.4% and above the previous reading of 3.1%. The latest weekly claims have come in lower too, at just 202k. All of this news has sent the dollar higher. The USD/JPY has spiked close to 146 on this news and US treasury notes are lower and hence the yields have risen. This is not the news the dollar bears were looking for. The USD/JPY is currently trading above that noted 146.08 resistance level, just now reaching 146.16. It has backed off a bit now though, currently trading at 145.85

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