The US dollar is noticeably strengthening against the euro, the pound sterling and the yen on Wednesday amid expectations of important economic data. Investors are waiting for the publication of reports on the dynamics of US and eurozone GDP for the first quarter, as well as March figures on Americans' incomes and expenses, including a key inflation indicator monitored by the Fed. The DXY index, which reflects the dollar's exchange rate against six major world currencies, is adding 0.04%, while the WSJ Dollar Index is increasing by 0.02%. The euro/dollar pair is trading at $1.1375, down from $1.1387. The pound weakened to $1.3389 against $1.3409 the day before. Against the yen, the dollar rose to 142.64 yen from the previous 142.35 yen. The Bank of Japan has started a two-day meeting at which it is likely to maintain its current monetary policy to assess the effects of the US tariffs. At the same time, in March, the country's industrial production decreased by 1.1% after rising by 2.3% in February, and retail sales fell by 1.2%, which was a record decline in six months.
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