It was trading at 129.87, where it has been recently after the strong Tokyo inflation number. This price is about 2.12% above the current level.The USD./JPY reacted mildly to last Friday’s American personal consumption expenditure data. According to the statistics agency, the PCE dropped to 4.4% in December after falling to 4.7% in the previous month.
The Fed will pay closer attention to these numbers when it starts its first meeting of the year on Tuesday. Economists believe that the bank will continue with its hawkish talk as it hikes rates by 0.50% for two straight meetings.
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