Ahead of U.S. PPI Data, Will the Dollar-Yen Pair Hold in the 157-Yen Range?

Ahead of U.S. PPI Data, Will the Dollar-Yen Pair Hold in the 157-Yen Range?

13.05.2026

In the U.S. currency market the previous day, the U.S. dollar held steady amid concerns that inflation was accelerating again, as the U.S. April Consumer Price Index (CPI) came in at 3.8% year-over-year, exceeding market expectations.The USD/JPY pair fluctuated within a range of 157.06 to 157.77 before closing near 157.67, continuing to hold above the 157.00 level.Currently, the 157.80 level is likely to be viewed as an upper resistance, while the focus on the downside will be on whether the 157.00 to 156.50 range will act as support. We will be watching today’s U.S. Producer Price Index (PPI) release to determine whether the U.S. dollar has room to rise further.

European currencies were weighed down by a stronger U.S. dollar following the release of U.S. CPI data, causing the euro to fall against the dollar. The euro/dollar pair traded within a range of 1.1722 to 1.1789 before closing around 1.1735; the immediate focus will be on whether it can recover to around 1.1750.On the upside, the 1.1780 to 1.1800 range is likely to be watched, while on the downside, the 1.1720 to 1.1700 range is likely to be in focus.Today’s schedule includes revised eurozone GDP figures, industrial production data, and remarks by ECB President Lagarde; we will be watching to see how the euro reacts to these developments regarding the European economy and monetary policy.

Today’s economic indicators include Japan’s April Business Survey at 14:00, France’s April Consumer Price Index (CPI, revised) at 15:45,the revised Eurozone GDP for Q1 and March industrial production at 18:00, the U.S. MBA Mortgage Applications Index at 20:00, the U.S. April Producer Price Index (PPI) at 21:30, and remarks by ECB President Lagarde at 28:15.U.S. PPI is expected to come in at 0.5% month-over-month and 4.8% year-over-year, while core PPI is forecast at 0.3% month-over-month and 4.3% year-over-year. Eurozone GDP and industrial production are likely to be key drivers during European trading hours, while U.S. PPI will be a key factor during New York trading hours; we will carefully monitor the reaction of the euro and the U.S. dollar.