Forex Top Team

Dollar strengthens, pushing USD/JPY into the 150 yen range as US CPI exceeds expectations

Following the January US Consumer Price Index (CPI) surpassing expectations, US bond yields surged, and dollar buying intensified. The year-on-year CPI came in at +3.1%, surpassing the market consensus of +2.9%. Core CPI also exceeded expectations at +3.9% compared to the consensus of +3.7%. The yield on the US 10-year bond rose sharply from the 4.12% level to the 4.28% level. USD/JPY surged from around 149.30 to around 150.30. Meanwhile, EUR/USD sharply declined from the 1.0790 level to the 1.0720 level.

With CPI results exceeding expectations, went long on USD/CHF as planned earlier.