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USD/JPY tests 150 as US CPI rate rises above forecasts

The US January Consumer Price Index (CPI) report has just been released. As noted many times already this week, the markets were expecting fall in price pressure last month. Well, that is not what has showed up. The monthly rate rose by 0.3%. The core annualised rate rose by 3.9%, matching the previous rise and the headline annualised rate rose by 3.1% which was higher than forecasts, at 2.9%. The reaction in the markets have seen the dollar jump back across the board. The USD/JPY has risen to test the 150 handle on this news, trading now at 150.13

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