USD/JPY sees minimal gains on geopolitical tensions as Japan’s inflation decelerates

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• USD/JPY prints minimal gains of 0.05% despite a drop in US 10-year Treasury bond yields.
• Geopolitical tensions in the Middle East and a light US economic calendar leave traders adrift.
• Japan’s core Consumer Price Index dips to 2.8% YoY, with fears of further inflation amidst rising oil prices.

The USD/JPY hovers at around 149.85 and prints minimal gains of 0.05% due to a risk-off impulse, even though the US 10-year Treasury bond yield falls, as traders expect no further hikes by the US Federal Reserve (Fed).