JAPANESE YEN STRENGTHENS AFTER TOKYO CPI DATA SUPPORTS BOJ RATE HIKE

Tina Collins

27 Dec 2024 — 1 min read

JAPANESE YEN STRENGTHENS AFTER TOKYO CPI DATA SUPPORTS BOJ RATE HIKE

The Japanese Yen (JPY) appreciated after the release of Tokyo CPI inflation data.

Tokyo CPI rose to 3.0% YoY in December, up from 2.6% in November.

Excluding Fresh Food and Energy, the Tokyo CPI increased to 2.4% YoY in December.

The inflation data strengthens expectations for a Bank of Japan (BoJ) rate hike in January.

The USD/JPY pair pulled back as the US Dollar edged higher amid expectations of fewer Fed rate cuts.

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ECB MEMBER ELDERSON WARNS OF RISKS OF RAPID RATE CUTS!

CHINA'S IMPORTS OF RUSSIAN OIL HIT RECORD HIGH LAST YEAR

CHINA'S VICE PRESIDENT HAN ZHENG MEETS MUSK AND VANCE, DISCUSSES CHINA-US RELATIONS

DOW RISES MORE THAN 300 POINTS, S&P 500 HEADS FOR BEST WEEK SINCE NOVEMBER AS RATES FALL