The Japanese Yen weakens against the US Dollar as market participants grapple with ambiguous signals from the Bank of Japan regarding future interest rate hikes. Easing concerns about Trump's tariffs and elevated US bond yields provide support for the USD.
The Japanese Yen attracts fresh sellers on Tuesday amid wavering BoJ rate hike expectations. Easing fears about Trump's tariff plans boosts the risk sentiment and undermines the JPY. Hawkish Fed-inspired elevated US bond yields favor the USD bulls and support USD/JPY . The Japanese Yen sticks to its neutral bias against its American counterpart, with the USD/JPY pair holding steady just above mid-157.00s through the early European session on Tuesday.
The proposal aimed at preventing a sudden increase in inflation triggers a modest pullback in the US Treasury bond yields and prompts some US Dollar profit-taking from over a two-year peak. Against the backdrop of the Federal Reserve's hawkish outlook, Friday's upbeat US Nonfarm Payrolls report raised doubts about the likelihood of rate cuts in 2025 and should support the USD.
JAPANESE YEN USD/JPY BANK OF JAPAN INTEREST RATES TARIFFS US TREASURY BONDS
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