Yahoo Finance FOREX-US dollar extends fall vs yen after inflation data
NEW YORK, June 28 (Reuters) - The U.S. dollar extended losses against the yen on Friday after data showed inflation in the world's largest economy cooled down last month, cementing expectations that the Federal Reserve will start cutting interest rates this year.
The U.S. personal consumption expenditures (PCE) price index, the Fed's preferred inflation measure, was unchanged last month, and followed an unrevised 0.3% gain in April, data showed. In the 12 months through May, the PCE price index increased 2.6% after advancing 2.7% in April.
Post-data, the dollar slipped 0.1% versus the Japanese currency to 160.55 yen. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Sharon Singleton)
