The USD/JPY pair consolidates its losses ahead of the US key data. New York Fed’s one-year and five-year inflation outlook eased to 3.57% and 2.72% respectively. Japanese Finance Minister Suzuki and Bank of Japan (BoJ) Deputy Governor Shinichi Uchida denied to comment on FX levels. Traders will focus on the US inflation data ahead of Japan’s growth numbers on Wednesday. The USD/JPY pair consolidates its recent losses during the Asian session on Tuesday.
The pair trims losses after plunging nearly 70 pips in late Monday on the speculations about a potential intervention in FX markets by Japanese authorities. USD/JPY currently trades around 151.72, up 0.05% on the day. On Tuesday, US Treasury Secretary Janet Yellen said that she disagrees with Moody's decision to move the US rating to a negative outlook while adding that she’s confident in the US economy and Treasuries as a safe-haven asset. As Fed officials said additional tightening will depend on the data. Investors will take cues from the US inflation data on Tuesday. The US headline Consumer Price Index (CPI) is expected to grow by