USD/JPY fades bounce off weekly low around mid-134.00s amid downbeat yields, mixed mood – by anilpanchal7 USDJPY YieldCurve BOJ Fed RiskAversion
Market sentiment remains dicey amid US debt ceiling drama, bank fears and mixed data.More clues of US inflation, risk catalysts eyed for clear directions.
In doing so, the Yen pair portrays the market’s inaction amid a light calendar and mixed sentiment ahead of the US inflation clues. However, the risk-barometer pair remains on the way to posting the second consecutive weekly loss as the yields remain pressured amid the market’s rush towards risk safety, mainly due to the fears emanating from US debt ceiling talks and banking woes.
In case of the US statistics, the Producer Price Index improved to 0.2% MoM for April versus 0.3% expected and -0.4% prior. More importantly, PPI ex Food & Energy, known as Core PPI, rose on MoM but eased on YoY. Further, US rose by 264,000 to push the level to the highest level since October 2021, which in turn escalated the risk-off mood and favored the US Dollar.
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