The US Dollar is down against the Japanese Yen in the European trading session, trading below 143.400 levels.
The USD/JPY currency pair is retreating in the European session, as higher than expected inflation data coming out of Japan is increasing the odds of an interest rate hike by the BoJ, creating positive pressure for the Yen. In Japan, Tokyo Core CPI for April was posted with data being higher than expected (3.4% realised vs 3.2% expected). In the US, Michigan Consumer Sentiment for April (50.8 exp) and Michigan 1-Year Inflation Expectations for April (6.7% exp) will be posted (15:00 GMT+1).
