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JPY: Eyes On US Inflation - Credit Agricole

By eFXdata  —  May 11 - 04:30 PM

Credit Agricole CIB Research discusses the JPY outlook into tomorrow's US CPI print for the month of April.

"US inflation data will be a litmus test for the equity market rally in the coming week where an upside surprise could lead to higher UST yields and a pullback in equities," CACIB notes.

"While higher UST yields would weigh on the JPY vs the USD, risk-off trading would help the JPY against risk-correlated currencies such as the GBP as well as commodity currencies," CACIB adds. 

Crédit Agricole Research/Market Commentary


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