The USD/JPY remains consolidated on Wednesday as buyers and sellers remain unable to move the markets past the 147.00-147.65 range for the last couple of days. At the time of writing, the major sits at 147.36 down a minimal 0.07%.
Gold price surges on Wednesday, up by over 0.60%, folllowing US inflation data, which increased speculation that the Federal Reserve (Fed) will resume its easing cycle at the upcoming September meeting. At the time of writing, XAU/USD trades at $3,646, shy of the record high of $3,674.
US Dollar (USD) rebounded post-BLS revision in what looked like a 'buy on rumour, sell the fact' trade. DXY was last at 97.82 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.