The USD/JPY pair is trading down for a second consecutive day, as the greenback remains out of the market’s favour, according to NDDFX’s Chief Analyst Valeria Bednarik.
“The sentiment is sour as the number of coronavirus cases in the US has surpassed those in China, while the spread in Europe gives no signs of easing.”
“Japan published Tokyo March inflation, which resulted slightly below expected, at 0.4% YoY, although the core reading, excluding fresh food and energy prices, remained stable at 0.7% YoY.”
“Later today, the US Personal Income and Spending figures for February are due, along with PCE inflation. Given that the numbers are from pre-crisis, they would likely have no impact on prices.”