USD/JPY Continues to edge lower as last week's bond buying spree from the BoJ appears to have run its course. Are we finally in for a retracement?
We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.2023-10-09 19:36:14BoE's Mann: -Wage and price inflation are sticky downwards -Going forward the length of time inflation remains above target will ...The Japanese Yen has been a surprise beneficiary of the tension in the middle east.
Now interestingly last year saw a similar response to the initial intervention by the BoJ with a spike lower before printing a fresh high. This was the precursor for what turned out to be quite a sizeable drop in USDJPY. This poses the age-old question, is history about to repeat itself? From a technical perspective the Dollar Index continues to struggle at the 107.00 resistance area. At this stage however, I am not yet convinced that the US Dollar rally has fully run its course. Given the fundamental backdrop and geopolitical situation the chance of another retest of the 107.00 mark remains a possibility.Besides the ongoing geopolitical tensions, markets were poised for the all-important US CPI print this week.
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