USD/JPY GAINS FOLLOWING DISMAL US CONSUMER REPORT

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  • USD/JPY climbs after worse-than-expected US consumer sentiment data.
  • Recession fears reignited as Americans became less optimistic about the economy.
  • A jump in US inflation expectations underpins US yields and the Greenback.

The USD/JPY advanced steadily during the North American session, following a worse-than-expected University of Michigan (UoM) poll that showed that American consumers are becoming pessimistic about the economy. Despite that, the major trades at 155.83, up 0.24%.


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