USD/JPY remains silent before releasing of the US Consumer Price Index (CPI) data and the FOMC Minutes on Wednesday.
USD/JPY stays quiet as the market adopts a cautious stance in anticipation of the US CPI release. Japan ’s PPI YoY and MoM increased by 0.8% and 0.2%, respectively, in March. US headline CPI is projected to accelerate in March, while the Core measure is expected to moderate. USD/JPY remains silent before releasing of the US Consumer Price Index data and the FOMC Minutes on Wednesday. The pair hovers around 151.70 during the Asian trading hours.
However, the monthly PPI increased by 0.2%, falling short of the expected 0.3%. The US Dollar Index strives to maintain its position as it anticipates the release of the US Consumer Price Index data and the FOMC Minutes later in the North American session. The US headline Consumer Price Index is projected to accelerate in March, while the core measure is expected to moderate. The US Dollar is in a state of anticipation, awaiting potential policy shifts influenced by incoming data.
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