Japanese Yen rallies amid strong US data and rising yields
The post Japanese Yen rallies amid strong US data and rising yields appeared on BitcoinEthereumNews.com. The USD/JPY pair advances toward the 158.30 region on Friday, reaching its highest level in nearly two weeks as the United States (US) Dollar (USD) strengthens following resilient US economic data and rising Treasury yields. The latest US Retail Sales report showed consumer spending rose 0.5% in April, reinforcing confidence in the resilience of the US economy despite elevated borrowing costs and persistent inflation pressures. The stronger-than-expected data added to recent gains in the Greenback and supported expectations that the Federal Reserve (Fed) may keep interest rates higher for longer. On another note, White House economic adviser Stephen Miran resigned from his position on the Fed Board, increasing uncertainty surrounding the future direction of US economic policy. Markets interpreted the development as potentially reducing pressure for a more dovish policy approach, hel