PPI 11.0%, Higher Than Expected | Japanese Yen Trending Up
b'April PPI numbers came in this morning with Y/Y at 11.0%, higher than the 10.7% expected, but M/M in line with expectations. The participation rate in employment is still the outlier, says Dan Deming. The U.S. Dollar (/DX) is holding strong and Dan calls it astounding how it has held up. He points out that the Japanese yen (/6J) is trading at the highest level in three weeks. Lastly, he and Ben discuss inflation, GDP, and the drop in bitcoin (/BTC).'