The US dollar trimmed gains versus the Japanese yen following the inflation data, which came in line with market expectations in February, USDJPY fell from its highest level since Feb. 28 at 107.28 to currently trade at 106.90.
Core CPI rose by 0.2% on month basis and by 1.8% on yearly basis, the same as in January, indicating that the Federal Reserve will remain on the path of gradual monetary tightening.
The British pound continued its strong rally against the US dollar to its highest level since February 27 at 1.3969. Currently, the pair is trying to break a downtrend and if it succeeds in stabilizing above, we would see Sterling moves heading towards 1.40 / 44 levels.
