JPY/USD is higher following softer-than-expected may CPI figures.
Portfolio Pulse from Benzinga Newsdesk
JPY/USD is higher following softer-than-expected May CPI figures.
June 12, 2024 | 2:01 pm
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POSITIVE IMPACT
The Japanese Yen (JPY) has strengthened against the US Dollar (USD) following softer-than-expected May CPI figures. This could lead to a short-term increase in the value of the CurrencyShares Japanese Yen Trust (FXY).
The softer-than-expected CPI figures suggest lower inflation, which can lead to a stronger JPY. This is likely to positively impact FXY, which tracks the value of the Japanese Yen.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80