The USD/JPY pair loses momentum near 149.80 during the early European session on Thursday. The downside of the pair might be limited due to a rise in
USD/JPY trades in negative territory near 149.80, down 0.10% on the day. The US Building Permits came in better than expected; Housing Starts arrived worse than the market consensus. The Bank of Japan ’s quarterly report suggested a recovery in Japan’s economy for all regions. The Fed Chair Jerome Powell’s speech, Japanese inflation data will be closely watched events this week. US Treasury bond yields. Meanwhile, the US 10-year Treasury yield surges to 4.
The hawkish comments from Fed officials on the policy outlook might lift the US Dollar demand and act as a tailwind for the USD/JPY pair. The Bank of Japan raises its assessment for six of Japan's nine economic regions in a quarterly report. The report indicated that Japan’s economy recovered moderately for all regions. But many regions saw exports and output moving sideways. Earlier this week, Japanese Finance Minister Shunichi Suzuki denied to comment about currency intervention.
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