Japanese Yen Gains Modestly After US PCE Data Meets Expectations
USD/JPY edged lower on Thursday after US PCE data matched expectations, but the yen remains pinned near 40-year lows.
USDJPY
The US Dollar eased on Thursday after the latest US Personal Consumption Expenditures (PCE) data broadly matched market expectations, allowing the Japanese Yen to gain modestly.
USD/JPY traded slightly lower as the dollar softened, but the yen remains under persistent pressure near its 40-year lows. The pair's movement reflects the data-driven reaction rather than a shift in the broader trend.
The PCE print, which met forecasts, offered little fresh impetus for the dollar, leading to a modest correction in the heavily lopsided USD/JPY position.
Source: FXStreet Forex News