USDJPY The Japanese Yen (JPY) remains on the front foot against its American counterpart for the second straight day on Wednesday and reacts little to the mostly in-line Producer Price Index (PPI). The Bank of Japan (BoJ) Deputy Governor Shinichi Uchida's hawkish comments on Tuesday keep the door open for further policy normalization and continue to act as a tailwind for the JPY. The US Dollar (USD), on the other hand, continues to be undermined by Tuesday's softer US consumer inflation figures, which lifted bets that the Federal Reserve (Fed) will cut interest rates at least two times this year. This is seen as another factor exerting downward pressure on the USD/JPY pair.
