ForexLive Asia-Pacific FX news wrap: Awaiting the US CPI data, USD/JPY fell on Ueda


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Major
FX traded in subdued ranges (yen strengthened, more on this below) during the session here as traders
awaited the US December CPI data due at 8.30 am US Eastern time
today.

News
and data flow were limited with only South Korea notable:

  • South
    Korea’s unemployment rate rose to the highest level in more than
    three years
  • South
    Korea’s impeached President Yoon has been arrested

More
on these in the points above.

We
did have European Central Bank Chief Economist Lane speaking in Hong
Kong. He expects inflation in the eurozone to decline further, with
lower interest rates ahead also.

I
posted this earlier in the week

– a guide to expectations for the
US CPI data. Check out the ‘range’ post above for the
distribution of forecasts.

Bank
of Japan Governor Ueda said that if improvement in economy and price
conditions continues the Bank will raise rates. USD/JPY dipped on his comments at a Bank Branch managers meeting.

This article was written by Eamonn Sheridan at www.forexlive.com.

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