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USDJPY: 7.5-Year High at 122.00 in Sight after 2-Year High in Core CPI
Traders throughout the US and Europe are anxiously looking ahead to kicking off the summer season with a long holiday weekend, but today’s economic data may keep most traders pinned to their desks today. Today’s marquee report was the just-released US Consumer Price Index for April, which showed that consumer prices rose at 0.1% m/m as expected. As always though, the Federal Reserve is far more interested in the change in core prices, which filter out volatile energy and food prices; according to this measure, prices in the US actually rose at a higher-than-expected 0.3% m/m rate, the fastest increase in over two ... (full story)