The USD/JPY pair struggles to capitalize on its modest Asian session uptick to the 148.00 mark and drops to a fresh daily low in the last hour.
USD/JPY gains some positive traction on Monday, albeit struggles to capitalize on the move. The divergent BoJ- Fed policy expectations turn out to be a key factor capping further gains. A positive risk tone undermines the safe-haven JPY and could lend some support to the pair. Spot prices currently trade just below mid-147.00s and seem vulnerable to prolong Friday’s retracement slide from a two-week top.
Hence, the focus will remain on the release of the FOMC meeting minutes on Wednesday, which will be followed by Fed Chair Jerome Powell's speech at the Jackson Hole Symposium on Friday. Bank of Japan FAQs What is the Bank of Japan? The Bank of Japan is the Japanese central bank, which sets monetary policy in the country. Its mandate is to issue banknotes and carry out currency and monetary control to ensure price stability, which means an inflation target of around 2%.
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