The March rice producer price index (PPI) was +2.7% year-on-year, falling short of market expectations of +3.0%. The previous value was revised upward from +4.6% to +4.9%. Excluding food and energy, the year-on-year growth rate was +3.4%, in line with market expectations, and the previous rate was revised upward from +4.4% to +4.8%.
The market reacted to the significant decline in March figures, and the US dollar is selling off along with the decline in US Treasury yields. The dollar/yen temporarily hit the 132.79 level and updated today’s lows. EUR/USD reached 1.1043 level at one point and reached a higher level. US 10-year bond yields fell to 3.38% at one point.
The flow is completely USD selling perspective. I was thinking of selling in USDJPY, but I failed to sell.
Continued to sell USD.
