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Maroc Maroc - FINANCIALMIRROR.COM - A La Une - 12/Feb 14:53

Dollar gains ground after US inflation data

The USDJPY currency pair gathered bullish momentum in the early American session on Wednesday and reached a fresh weekly high near 154.50, up just over 1% on the day. The US dollar is outperforming its rivals and helps USDJPY push higher following the January inflation data, which will influence the Fed’s monetary policy outlook. The Bureau of Labor Statistics reported that the consumer price index (CPI) rose 3% on a yearly basis in January, above the market expectation and December’s increase of 2.9%. Additionally, the core CPI, which excludes volatile food and energy prices, increased 0.4% on a monthly basis.

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