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Commodity News |
HeadLine : |
Yen turns weaker in Asia as investors look ahead to Yellen views |
Date : |
May 27 2016 |
The yen turned weaker in Asia on Friday despite consumer prices for April a bit better than expected on the core measure and as investors await remarks by Fed Chair Janet Yellen on rates following a drumbeat of policy makers suggesting a hike as early as the June meeting.
USD/JPY changed hands at 109.91, up 0.13%, while AUD/USD was down 0.01% to 0.7225.
In Japan, national CPI for April fell 0.3%, in line with the 0.3% drop seen year-on-year, while national core CPI also dropped 0.3%, below the expected 0.4% decline year-on-year.
Consumer prices remain under pressure from lower goods prices as food companies and restaurant chains were cautious about raising prices at the start of fiscal 2016 in April.
Source: Investing.com
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