USD/JPY BEARS TARGET 131.5 AS MORE CRACKS APPEAR IN THE US ECONOMY
It is a
quiet morning for the USD/JPY. There were
no economic indicators from Japan to draw interest.
The
lack of stats will leave investors to consider the overnight
US wholesale inflation and jobless claims figures. While a
sharp fall in the US producer price index and a larger-than-expected increase in US jobless claims were bearish,
investor bets of a 25-basis point Fed interest rate hike in May remained relatively steady this morning.
According to the FedWatchTool, the probability of a 25-basis point Fed interest rate hike in
May fell from 70.4% to 68.3% overnight. The numbers support one more hike in May before ... (
full story)
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