BoJ leaves rates unchanged, PCE rises

The USDJPY pair continued to rise above the 156 handle whilst Gold prices lacked direction post higher PCE

By Nadia Elbilassy | @Nadia Elbilassy | 26 April 2024

Market close
  • BoJ maintains rates and the yen slides to 156 against the dollar.

  • GBP/USD rises; AUD/USD climbs on strong inflation data


The yen plunged after the BoJ left policy unchanged after historic hike in March. The USD/JPY claimed the 156.72.

Additionally, the yearly core CPI from Tokyo softened to 1.6% vs 2.2% expected and 2.4% in March, falling below the central banks 2% target

The GBP/USD pair continued to rise for the 4th consecutive day, hovering near 1.2513.

The AUD/USD pair climbed by 0.5% to reach 0.6552, buoyed by robust Australian producer price index inflation figures. This data, combined with a stronger CPI reading earlier in the week, fueled expectations of prolonged higher interest rates in the country.


The US PCE rose 2.7% from its previous reading of 2.5% in February. While the monthly index stayed the same at 0.3%.

Gold’s initial reaction was a price drop to $2,340 before trading in a tight range near the $2,350. With next resistance level near $2365 and $2,371 and on the bearish side, a confirmation below the $2,300 could act as a key support level.