RTRS: Dollar erases losses vs yen after US CPI data
The dollar erased losses against the yen on Friday as U.S. stock futures trimmed declines after a government report showed a rise in U.S. consumer prices in January, about in line with expectations.
The dollar last traded little changed at 94.34 yen ,compared with 94.15 yen before the release.
The government said its consumer prices rose 0.3 percent after falling 0.8 percent in December. Analysts polled by Reuters had forecast headline CPI rising 0.3 percent. See [ID:nN19520115].
Core prices rose 0.2 percent, against analysts' prediction for a 0.1 percent increase.
"The numbers are much as expected," said Joseph Trevisani, chief market analyst at FX Solutions in Saddle River, New Jersey. "This has allayed temporarily, fear of heightening deflation."
