The USD/JPY pair exhibits a subdued performance near 146.50 in Tuesday’s European session.
USD/JPY edges lower near 146.50 amid weakness in the US Dollar. The Fed is widely anticipated to start reducing interest rates in September. Japan’s robust Q2 GDP growth has boosted expectations of more BoJ’s rate hikes. The asset edges lower but remains inside Monday’s trading session with investors focusing on the Fed eral Reserve Chair Jerome Powell’s speech at the Jackson Hole Symposium on August 22-23.
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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