USD/JPY breaks its two-day losing streak, trading around 142.90 during the European hours on Thursday.
USD/JPY gains ground due to rising odds of a smaller rate cut by the Fed in September. BoJ board member Naoki Tamura stated that there is no predetermined plan regarding the pace of future rate hikes. CME FedWatch Tool suggests the odds of a 50 bps rate cut by the Fed have decreased to 15.0%. The Japan ese Yen remains subdued following the remarks from the Bank of Japan board member Naoki Tamura. BoJ board member Tamura stated that there is no preset idea on the pace of further rate hikes.
Japanese Yen FAQs What key factors drive the Japanese Yen? The Japanese Yen is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors.
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