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22 May 2015
USD/JPY reaches fresh 2-month high after US CPI
FXStreet (Córdoba) - USD/JPY climbed to its highest level in 2 months as the greenback received a boost from US consumer inflation data.
Consumer price index rose by 0.1% in April, scoring its third gain in a row and matching expectations. Excluding volatile food and energy categories prices climbed 0.3%, posting the largest increase since January 2013 and above the 0.2% increase anticipated. On annual basis, CPI fell 0.2% against a drop of 0.1% expected, while the core index rose 1.8%, above the 1.7% of consensus.
Core figures underpinned the greenback across the board, as they are moving closer to the 2.0% target of the Federal Reserve.
USD/JPY edged slightly higher but accelerated gains to a 2-day high of 121.50after breaking above the 121.10 area. At time of writing, the pair is trading at 121.45, 0.35% above its opening price.
Consumer price index rose by 0.1% in April, scoring its third gain in a row and matching expectations. Excluding volatile food and energy categories prices climbed 0.3%, posting the largest increase since January 2013 and above the 0.2% increase anticipated. On annual basis, CPI fell 0.2% against a drop of 0.1% expected, while the core index rose 1.8%, above the 1.7% of consensus.
Core figures underpinned the greenback across the board, as they are moving closer to the 2.0% target of the Federal Reserve.
USD/JPY edged slightly higher but accelerated gains to a 2-day high of 121.50after breaking above the 121.10 area. At time of writing, the pair is trading at 121.45, 0.35% above its opening price.