The USD/JPY pair nosedives to near 142.50 in Friday’s North American session.
USD/JPY falls further to 142.50 on multiple headwinds. Japan Ishiba’s victory inPM elections has strengthened the Japanese Yen. Cooling US inflationary pressures have weighed on the US Dollar. The asset weakens as the victory of Japan's former defence minister Shigeru Ishiba in the Prime Ministerial contest has strengthened the Japanese Yen . Japanese Yen PRICE Today The table below shows the percentage change of Japanese Yen against listed major currencies today.
A sharp rally in the Yen suggests that the market participants expect the victory of new PM Shigeru Ishiba to be favorable for further interest rate hikes by the Bank of Japan . In his previous comments, Ishiba told Reuters that the central bank was on the right policy track with rate hikes thus far.
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