Ella 
USD/JPY opened Monday with lows near the 147.00 mark, well away from the highs of 150.00 reached in early March. Markets braced for U.S. inflation data on Tuesday as investors continued to look for signs that the Federal Reserve might cut interest rates sooner if inflation eases quickly.
Japan’s fourth-quarter gross domestic product (GDP) fell short of expectations, but rebounded from -0.1% in the previous quarter. Fourth-quarter GDP was recorded at 0.1%, down from 0.3%. Japan’s fourth-quarter gross domestic product (GDP) annual rate was also lower than expected, at only 0.4%, compared with the expected 1.1%, even though the GDP growth rate was still improved from the previous quarter’s -0.4%.
US inflation outlook: 10 major banks forecast inflation remains too high
The U.S. monthly consumer price index (MoM CPI) is expected to accelerate to 0.4% in February from 0.3% as uneven inflation continues to weigh. Core inflation, which excludes food and energy prices, is expected to fall to 0.3% monthly from 0.4%.
Inflation is expected to hold at an annual rate of 3.1%, with core inflation expected at an annual rate of 0.3%, compared with the previous reading of 0.4%.
