USDJPY Advances Near 4-Year Peaks, Risk-on Amid Surprisingly Lower CN CPI

The Yen remained under selling pressure losing further against the greenback with USDJPY advancing to almost 4-year high around upside hurdle at 99.60. The currency pair, increased from 92.70 to 99.60, meaning that it jumped more than 7% in less than a week.

The EURUSD stands above 1.30 while yesterday it rose as high as 1.3066 amid stronger German industrial production, also due to falling 10Y bond yields, Spanish dropped since previous Thursday 20bp and the Italian 26bp.

At the same time the Chinese annual CPI was at 2.1% for March, lower than expectation at 2.5% and down from 3.2% in February.

The AUDUSD climbed earlier today to 1.0445 following Chinese inflation data; however investors’ risk sentiment is capped by continuing tension between North and South Korea.

Read original on: Forex Trading Market

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