The Bank of Japan’s latest policy decision, US Q1 GDP, and Core PCE data makes this an important week for USD/JPY traders.
decision on Friday, and while the central bank is fully expected to leave all policy settings untouched, as with all central bank meetings, post-decision commentary is key. Current financial market expectations are showing just a 10% probability of a 10 basis point rate hike and unless the BoJ gives the market something to work with, and not just talk about following the exchange rate closely, the Japanese Yen is set to remain weak., and the latest Core PCE reading.
Download the Latest IG Sentiment Report and Discover How Daily and Weekly Shifts in Market Sentiment can Impact the Price Outlookexpectations are pulled in. After battling with the 192-193 area for the best part of this month, recent Sterling weakness has seen the pair drop to around 190.50. A break below 190.00 will bring the 188.80 area into play before 186s act as support. This year’s series of higher lows remains intact, and the series of higher highs looks to be broken.
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