USD/JPY gains following dismal US consumer report

  • 📰 FXStreetNews
  • ⏱ Reading Time:
  • 21 sec. here
  • 5 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 72%

USDJPY News

Majors,Fundamental Analysis,Technical Analysis

The USD/JPY advanced steadily during the North American session, following a worse-than-expected University of Michigan (UoM) poll that showed that American consumers are becoming pessimistic about the economy.

USD/JPY climbs after worse-than-expected US consumer sentiment data. Recession fears reignited as Americans became less optimistic about the economy. A jump in US inflation expectations underpins US yields and the Greenback. The USD/JPY advanced steadily during the North American session, following a worse-than-expected University of Michigan poll that showed that American consumers are becoming pessimistic about the economy. Despite that, the major trades at 155.83, up 0.24%.

In the meantime, two Federal Reserve officials had crossed the newswires. Fed Governor Michelle Bowman commented that the US central bank should proceed “carefully and deliberately.” Her colleague, the Dallas Fed Lorie Logan, said it's too early to think about cutting rates. Next week, the US docket will feature the release of inflation figures, retail sales, building permits, and Fed speeches.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 14. in ERROR

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

USD/JPY Outlook: Hot US Inflation Propels USD/JPY to Worrying LevelsJapanese finance officials issued a further warning centered around the volatility of recent yen weakness, explicitly mentioning USD/JPY levels currently in play
Source: DailyFX - 🏆 305. / 63 Read more »

USD/JPY rises to near 154.00 amid improved US DollarUSD/JPY extends gains for the second successive session, trading around 154.00 during the European hours.
Source: FXStreetNews - 🏆 14. / 72 Read more »

USD/JPY moves above 155.50 due to the firmer US DollarUSD/JPY is retracing its recent losses from the previous session, trading around 155.70 during the European session on Friday.
Source: FXStreetNews - 🏆 14. / 72 Read more »