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The American dollar remains the strongest currency across the FX board after the release of above expected US April ´s inflation. The USD/JPY pair trades at the upper end of its monthly range, near a fresh May high at 109.78. As FXStreet’s Chief Analyst Valeria Bednarik notes, bulls are in control as yields keep raising.  

Speculative interest awaits US employment-related figures for additional clues

“Japanese data failed to impress. The Trade Balance posted a surplus of ¥983.1 billion in March, surpassing expectations, although the April Eco Watchers Survey Outlook contracted to 41.7.”  

“The US will publish the April Producer Price Index and Initial Jobless Claims for the week ended May 7, foreseen at 490K.”

“The USD/JPY pair is bullish in the near-term and would likely extend its advance in the upcoming hours. Much will depend on how US Treasury yields develop.”  

 

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