USD/JPY recovers a few pips from daily low, finds some support ahead of 147.00 mark – by hareshmenghani USDJPY Fed Bonds BOJ Currencies
on Thursday. The intraday downtick, however, finds some support at lower levels, allowing spot prices to bounce over 40 pips from the vicinity of the 147.00 round figure.
Powell added that the terminal rate is at a much higher level than initially anticipated, which, in turn, triggered a fresh leg up in the US Treasury bond yields. In contrast, the Bank of Japan, so far, has shown no inclination to hike interestand reiterated that it will continue to guide the 10-year bond yield at 0%. The resultant widening of the US-Japan rate differential offers additional support to the USD/JPY pair.
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