The USD/JPY pair trades in a muted fashion toward the 159.20 region on Friday as the United States Dollar (USD) finds support following the latest inflation data, while the Japanese Yen (JPY) remains pressured amid uncertainty surrounding the Bank of Japan’s (BoJ) policy outlook.
DBS Group Research’s Philip Wee notes that Brent and WTI have fallen sharply, as markets anticipate abundant supply from the Gulf.
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 99.00 during the Asian trading hours on Friday.