USD/JPY advances near 154.15 (+0.40%) as hot PPI (5.4% YoY) and claims at 206K lift the dollar. FedWatch nearly 70% chance of a rate hike on this stamp, up from about 61% pre-data.
The yen weakened on Thursday as hot US producer prices and resilient claims supported the dollar.
USD/JPY advances to around 154.15 on Thursday at the time of writing, up 0.40% on the day.
US PPI rose 5.4% YoY in August, above the 5.3% expected and accelerating from the previous 4.8% increase after revision. Initial Jobless Claims declined to 206K, compared with 207K in the previous week and slightly above expectations of 205K.
According to the CME FedWatch tool (this piece): markets now price in nearly a 70% chance of a rate increase, up from around 61% before the data were released.
Follows USD/JPY Asia mid-153s.
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