JPY/USD is trading higher following softer-than-expected Apr. US CPI data.
Portfolio Pulse from Benzinga Newsdesk
JPY/USD is trading higher following softer-than-expected April US CPI data.
May 15, 2024 | 12:39 pm
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JPY/USD is trading higher due to softer-than-expected April US CPI data, indicating potential short-term strength in the Japanese Yen against the US Dollar.
Softer-than-expected CPI data typically weakens the US Dollar as it suggests lower inflationary pressures, leading to a stronger JPY/USD pair.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100