The USD/JPY pair oscillates near the crucial resistance of 150.00 as investors watch for interest rate guidance from Federal Reserve (Fed) Chair Jerom
USD/JPY holds onto gains near 150.00 ahead of Fed Powell’s speech. Investors anticipate support for ‘higher for longer’ interest rates from Fed Powell. Market watch for BoJ intervention as the Japanese Yen has dropped to almost 150.00 against the US Dollar. e Powell in his speech at the Economic Club of New York around 16:00 GMT. Investors anticipate endorsement for keeping interest rates higher for a longer period to ensure progress in inflation declining toward the 2% goal from Jerome Powell.
The Fed’s Beige Book released on Wednesday reported that economic activities remained almost unchanged in September. Loan demand declined modestly while credit quality remains healthy. Some heat was released from the tight labor demand as employers were hiring less urgently. On the Japanese Yen front, investors watch for the Bank of Japan’s intervention in the FX domain as the Japanese Yen has dropped to almost 150.00 against the US Dollar.
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