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.
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