The USD/JPY pair finds intense selling pressure near historic highs of 152.00 in Wednesday’s late American session.
USD/JPY drops from 152.00 as expectations for BoJ’s intervention deepen. The Japanese Yen remains weakdespite BoJ exiting negative interest rates. The US Dollar exhibits strength ahead of the US core PCE Inflation data. The asset falls sharply after Japan’s Finance Ministry reported that The Bank of Japan, Ministry of Finance and Financial Services Agency are scheduled to hold a tri-party meeting.
Apart from that, investors hope that the BoJ’s move to further policy normalization will be very slow. Meanwhile, the US Dollar is upbeat ahead of the United States core Personal Consumption Expenditure Price Index data for February, which will be published on Good Friday. Trading volume is expected to remainlow in that session as US equity and bond markets will remain closed. The annual core PCE inflation is estimated to have grown steadily by 2.8%, with monthly growth declining to 0.3% from 0.
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