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USD/JPY Bulls Target 140 on Hawkish Fed and US Debt Ceiling
It is a busy start to the day for the USD/JPY. Japanese inflation numbers for April will draw attention this morning. Economic indicators have sent mixed signals this week. While GDP numbers for Q1 impressed, trade data disappointed, with a fall in exports to China reflecting the macroeconomic environment across the region. However, hotter-than-expected inflation numbers would give the Bank of Japan a reason to discuss ultra-loose monetary policy at the next meeting. Economists forecast the annual core inflation rate to accelerate from 3.1% to 3.4%, while economists project headline inflation to soften from 3.2% to ... (full story)