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US dollar slightly trims gains vs yen after in-line inflation data

Kitco Media
By Reuters
Published:
Updated:
Reuters
US dollar slightly trims gains vs yen after in-line inflation data teaser image

NEW YORK, April 26 (Reuters) - The dollar pared gains against the yen on Friday after data showed U.S. inflation came in line with forecasts, affirming expectations that the Federal Reserve will likely delay cutting interest rates to later this year.

The personal consumption expenditures (PCE) price index rose 0.3% in March, compared to a forecast of a 0.3% increase, according to the data In the 12 months through March, PCE inflation advanced 2.7% against expectations of 2.6%.

The dollar was last at 156.87 yen , up 0.8%, after earlier hitting a fresh 34-year high of 156.92.

The dollar index also cut its gains, last flat at 105.65 .

Reporting by Gertrude Chavez-Dreyfuss

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