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FX outlook: Focus on U.S. March PPI and Iran situation
The dollar-yen pair is likely to be driven by developments in Iran and the U.S. March Producer Price Index (PPI) through tomorrow. The expected range is 158.50 to 159.60 yen.
On speculation that the U.S. and Iran will continue peace negotiations, the unwinding of safe-haven dollar buying has accelerated. The pair slipped to around 159.00 yen. Markets will likely continue to monitor the situation in Iran closely through tomorrow. Additionally, the U.S. March PPI is due, with analysts expecting year-on-year growth to accelerate to 4.6% from 3.4% in February. Speeches by Chicago Fed President Goolsbee and Fed Governor Barr are also on the schedule.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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