The US PPI report on Thursday came in hot, the latest in a string of rising inflation indications:
Earlier in the week the CPI:
While June is still favoured for the first Federal Open Market Committee (FOMC) rate cut that's going to get binned if inflation reports stay strong. The PPi on Thursday showed goods inflation ticking up at the wholesale level, a troubling sign.
The USD gained right across the majors board and that has continued here in Asia today.
USD/JPY has traded above 148.60:
