USD/JPY Forecast: CPI Sends US Dollar into Support

  • The CPI number came out to 0.0% month over month on Wednesday morning, and the Core CPI figure came out at 0.3% month over month.
  • This was lower than anticipated, so traders started to bet that the Federal Reserve is closer to pivoting than they originally thought.
  • As a result, interest rates started to drop across the board, just exactly what the Japanese yen needs to see.

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