USD/JPY is creeping a little higher to 147.80 but in the context of this week, the move here doesn't stand out. The pair remains well caught in between its 100 and 200-day moving averages at 146.00 and 148.70 respectively.
As we look to the US CPI report later, all eyes will be on the dollar reaction to what the inflation numbers may mean for the Fed outlook.
If there is stronger evidence of tariffs passthrough on prices, that could change the equation for the Fed outlook by year-end. In turn, that will see the dollar react accordingly. For now, traders are pricing in ~68 bps of rate cuts by year-end with a 25 bps rate cut next week a slam dunk at the moment. So, that's the benchmark we'll have to work with once we get to the data later.
This article was written by Justin Low at investinglive.com.Hence then, the article about major currencies muted as traders wait on the us cpi report was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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