April US CPI MoM forecast undershot, USD/JPY in the 154 yen area.

【5/15Market Overview

In Tokyo time, USD/JPY rose to as high as156.56yen on the go-to-day fix, but later faced selling by domestic real-money buyers, limiting gains. During European session, ahead of the USCPI, there were adjustments to unwind long positions, and USD/JPY fell to as low as155.79yen. In New York time, the4month US versus prior month rose by0.3% vs expected0.4%, year-on-year change slowed to3.4% as expected and slowed from the prior month. The core index also rose0.3% monthly; year-on-year3.6% as expected and slowed. Additionally, the4月 US retail sales for April were below expectations on a month-on-month basis,3months were revised lower. USD/JPY fell to around154.69yen as US 10-year yields declined.