Dollar near 2-month high vs yen, US inflation beats expectations

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Dollar near 2-month high vs yen, US inflation beats expectations

Post by gmong » 31 May 2021 13:52

Dollar near 2-month high vs yen, US inflation beats expectations


The dollar held สล็อตทดลองเล่น near a two-month high against the yen on Monday after a key measure of U.S.
inflation showed stronger price gains than expected, keeping alive expectations of an eventual tapering in
the Federal Reserve's asset buying.

The dollar traded at 109.87 yen, having reached a 110.20 on Friday, coming within striking distance of the one-year
peak of 110.97 marked at the end of March.

The U.S. inflation data also drove the greenback higher against other currencies briefly as well, though the currency
run out of steam ahead of a long weekend in New York and London.

The euro changed hands at US$1.2194, off Friday's low of US$1.2133, while the British pound stood little changed
at US$1.4189.

U.S. consumer prices surged in April, with a measure of underlying inflation blowing past the Federal Reserve's
2per cent target and posting its largest annual gain since 1992, due to a recovery from the pandemic and various
supply disruptions.

The core personal consumption expenditures (PCE) price index, the Federal Reserve's preferred gauge of inflation,
rose 3.1per cent from a year ago, a tad above market expectations of 2.9per cent rise.

Although the high reading was due partly to the base effect - prices were depressed in April 2020 because of strict
lockdowns - and its annual rise is expected to moderate later this year, some investors remained nervous.

"If we see inflation consistently hitting above 2per cent, that could put upward pressure on wages.
There's risk inflation trending higher than expected," said Masafumi Yamamoto, chief currency strategist at Mizuho



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