23 Dec 2013
USDJPY: Pair breaks below range ahead of US inflation numbers
FXstreet.com (London) - USD/JPY fell from highs at JPY104.0650 down 0.11 percent to 103.9350 ahead of today’s inflation numbers.
Consensus expectations are for the US core PCE price index to rise 1.2 percent in November year-on-year, up from the 1.1 percent year-on-year rise in October, the lowest reading since October 2011.
Short yen positions remain vulnerable to year-end corrections with investors paring bets.
The pair broke out of a range at JPY103.98-JPY104.05 breaking to the downside towards Friday’s low of JPY103.9100.
Consensus expectations are for the US core PCE price index to rise 1.2 percent in November year-on-year, up from the 1.1 percent year-on-year rise in October, the lowest reading since October 2011.
Short yen positions remain vulnerable to year-end corrections with investors paring bets.
The pair broke out of a range at JPY103.98-JPY104.05 breaking to the downside towards Friday’s low of JPY103.9100.