USD/JPY extends its losses for the second successive session, trading around 154.30 during the Asian hours on Thursday.
USD/JPY continues to decline as the US Dollar correction exerts pressure on the pair. Japan 's CPI data is scheduled to be released on Friday, expecting a moderation in consumer prices for March. US President Joe Biden calls for a tripling of tariffs on Chinese steel and aluminum. The decline in the US Dollar exerts pressure on the USD/JPY pair. The Japan ese Yen might have received support from Japan 's trade balance shifting to a surplus in March.
On the other hand, the expectation of the Federal Reserve maintaining elevated interest rates for an extended period, supported by a robust US economy and persistent inflation, serves as a counterbalance to the downward pressure on the USD/JPY pair. Federal Reserve Bank of Cleveland President Loretta Mester addressed on Wednesday, noting that inflation surpasses expectations and that the Fed requires more assurance before confirming the sustainability of 2% inflation.
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