The USD/JPY pair consolidates in a tight range near 161.50 in Thursday’s European session.
USD/JPY hovers below 161.50 as the US Dollar declines ahead of US Inflation data. The US inflation will influence market speculation for Fed rate cuts. Fears of Japan’s intervention have intensified. The asset trades back and forth as investors have shifted to sidelines ahead of the United States Consumer Price Index data for June, which will be published at 12:30 GMT. Economists expect that annual headline inflation decelerated to 3.1% from May’s reading of 3.3%.
Japanese Yen FAQs What key factors drive the Japanese Yen? The Japanese Yen is one of the world’s most traded currencies. 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.
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