USD/JPY fell to 156.36 yen following a below-forecast Q1 PCE core reading.
【5/30Market Overview
During Tokyo time, the USD/JPY pair saw selling as the Nikkei average fell and as selling pressure from Japanese exporters was observed. In the afternoon, following the decline in US Treasury yields in after-hours trading, the USD/JPY fell to 156.78 yen. In European trading hours, the USD/JPY remained soft.NYtime,PCE, the inflation gauge that the Fed monitors, for the first quarter showed a year-over-year rate of3.6%, below the forecast of3.7%. As a result, US10year Treasury yields declined, and USD/JPY briefly fell to156.36yen.
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