The US dollar fluctuated in a narrowly bullish range during the Asian session against the Japanese Yen, to rebound in the third straight session from the lowest since the beginning of April, amid a lack of economic data by the Japanese economy, and on the eve of developments and economic data expected on Friday from the US economy.
At 05:54 GMT, USD/JPY rose 0.13% to 111.81 compared to the opening levels at 111.66, after reaching a high of 111.82, while the lowest at 111.59.
Investors are currently waiting for the US economy to release the Import Price Index, which may reflect a slowdown in growth to 0.4% from 0.6% in February, while the reading for the same index (excluding oil) may show stability at zero levels versus 0.1%, in addition to the annual reading for the index which may show a contraction to 0.7% from 1.3% in February.
This comes ahead of the release of University of Michigan Prelim Consumer Sentiment index, which may reflect the widening contracting to 98.1 versus 98.4 in March, with the release of Prelim UoM Inflation Expectations for 12 months ahead, to the US Treasury release of its report on international economic and exchange rate Policies, which also know by Treasury Currency Report.
On Wednesday, the Fed unveiled the last meeting minutes held on 19-20 March, which touched a gradual reduction in bond repurchases until September, with the Commission reducing its forecast for growth rates while raising the unemployment forecasts, as they also receded from their previous forecasts of a couple of rate hikes this year, and kept expectations to raise it once in 2020, as they agreed to keep interest rates between 2.25% and 2.50%.