USD/JPY flirts with daily low, still comfortable above 135.00 mark ahead of US data/Powell By HareshMenghani USDJPY Recession Fed BOJ Currencies
ouched the previous day. The pair maintained its offered tone through the mid-European session and was last seen trading just below mid-135.00s, down over 0.60% for the day.
Investors remain sceptic that major central banks could hike interest rates to curb soaring inflation without affecting economic growth. Adding to this, the disappointing release of the flash Bearish traders further took cues from declining US Treasury bond yields, though the emergence of freshbuying helped limit deeper losses for the USD/JPY pair, at least for now. The USD drew support from firming expectations that the Fed would stick to its aggressive policy tightening path to combat stubbornly high inflation.
It is worth recalling that the BoJ last week decided to maintain the massive stimulus programme and vowed to defend the 0.25% cap for the 10-year JGB yield to support a still-fragile economy. This, along with a turnaround in the global risk sentiment, assisted the USD/JPY pair to find support ahead of the 135.00 psychological mark.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/JPY bears flirt with 135.50 as bond market expects BOJ to surrender YCCUSD/JPY licks its wounds near intraday low, at 135.50 during Thursday’s European morning. The yen pair’s latest weakness could be linked to the mixed
Read more »
USD/JPY: Extreme Highs Not Ordinary or SurprisingThe USD/JPY has climbed again and the value of the Forex pair is testing heights not seen since September of 1998.
Read more »
EUR/USD defends bulls around 1.0550 ahead of Fed Chair Powell’s TestimonyEUR/USD holds onto the previous two-day gains around 1.0535-40 during Wednesday’s initial Asian session. The major currency pair’s latest rebound coul
Read more »
USD/CAD clings to gains post-Canadian CPI, remains below 1.3000 ahead of PowellThe USD/CAD pair maintained its bid tone through the early North American session and was last seen trading around the 1.2980 region, just a few pips
Read more »
USD/JPY Price Analysis: Bears are lurking and a significant correction could be on the cardsWith the divergence between the Bank of Japan and the Federal Reserve, the yen has been crushed to multi-year levels and the following illustrates the
Read more »
GBP/USD Forex Signal: Sterling Outlook Ahead of UK DataThe GBP/USD price continued to consolidate as investors waited for the upcoming UK consumer and producer inflation data.
Read more »