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The USD\/JPY pair extends the rally around 156.20 during the early Asian trading hours on Tuesday. The Japanese Yen loses ground against the US Dollar (USD) despite the hawkish signal from the Bank of Japan (BoJ) to cut purchases of Japanese government bonds\u00a0on Monday and the downbeat Nonfarm Payrolls<\/a> (NFP) for April last week.\u00a0<\/p>\n Investors will take more cues from the key US\u00a0economic data this week, including the Producer Price Index<\/a> (PPI), Consumer Price Index (CPI), and Retail Sales.\u00a0These reports will offer\u00a0some\u00a0hints as to whether\u00a0inflation\u00a0remains stubborn, is receding somewhat, or is even perhaps\u00a0increasing.\u00a0The PPI figure, a\u00a0measure of inflation at the wholesale level, is due on Tuesday and is expected to rise 2.2% YoY in April. The core PPI, excluding energy and food costs, is projected to increase by 2.4% YoY in the same report period. Traders might use the PPI report to gauge the potential CPI outcome, and\u00a0the hotter-than-expected data might continue to boost the US Dollar (USD) against the Japanese Yen (JPY).\u00a0<\/p>\n On the JPY\u2019s front, the Bank of Japan (BoJ) sent a hawkish signal on Monday by reducing the amount of Japanese government bonds<\/a> (JGBs) it offered to buy in a regular purchase operation. This move\u00a0is expected\u00a0to put upward pressure on Japanese bond yields and possibly narrow the gap between Japan and the United States, which has weakened the JPY. However, the recent move was muted and had little effect on the Yen.\u00a0On the Japanese docket,\u00a0the nation\u2019s GDP growth number for Q1 2024 will be released\u00a0on Thursday.\u00a0The\u00a0stronger\u00a0reading might lift the JPY and cap the upside of the USD\/JPY pair<\/a> in the near term.\u00a0<\/p>\n \u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" USD\/JPY extends its upside near 156.20 in Tuesday\u2019s early Asian session.\u00a0 Investors will monitor the US PPI figure on Tuesday,\u00a0which is\u00a0estimated to rise 2.2% YoY in April.\u00a0 The BoJ cut the amount of Japanese government bonds it offered to buy in a regular purchase operation. The USD\/JPY pair extends the rally around 156.20 during the […]<\/p>\n","protected":false},"author":2,"featured_media":12571,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,333,277,252,247,253,249,275,256,254],"class_list":["post-301338","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-macroeconomics","tag-majors","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-usdjpy","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/301338","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=301338"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/301338\/revisions"}],"predecessor-version":[{"id":301339,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/301338\/revisions\/301339"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/12571"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=301338"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=301338"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=301338"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}