The USD/JPY pair fell sharply to near the psychological support of 150.00 in the European session. The asset faces a sell-off as the US Dollar Index (
USD/JPY drops to near 150.00 after a nominal correction in the US Dollar. The market sentiment improves as traders see interest rates by the Fed remaining unchanged in the range of 5.25-5.50%. Tokyo inflation rose in October amid ultra-loose monetary policy. DXY) edged down after facing barricades near 106.90 and the Japanese Yen strengthened on higher Tokyo consumer inflation data.
The 10-year US bond yields skids from 5% but the near-term trend remains upbeat as the US economy is resilient amid a strong growth report. The US Gross Domestic Product for the July-September quarter, released on Thursday, showed that the economy grew at a robust pace of 4.9% against expectations of 4.2% on an annualized basis. On the Tokyo front, the headline Consumer Price Index for October rose by 3.3% against 2.8% reading from September. The core inflation softens marginally to 3.
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