The USD/JPY pair posts a fresh two-day high at 150.80 in the North American session on Monday.
USD/JPY climbs to near 150.80 amid sheer weakness in the Japanese Yen. Japan’s GDP rose faster by 1.2% in the third quarter of the year. Investors await the US CPI data for fresh interest rate guidance. The asset surges more than 0.5% as the Japanese yen weakens across the board amid growing doubts among market participants about whether the Bank of Japan will raise interest rates in the monetary policy meeting on December 19.
Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors. How do the decisions of the Bank of Japan impact the Japanese Yen? One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen.
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