USD/JPY traces mildly bid yields near 142.00, ignores hawkish BoJ concerns ahead of US CPI – by anilpanchal7 USDJPY BOJ Fed YieldCurve Inflation
In the last week, Bank of Japan’s two unscheduled bond-buying programs and the decision-makers’ defenses of the easy-money policy flags fears of the BoJ’s exit from the record low interest rate and/or a tweak to the Yield Curve Control policy.report while stating that Japan's core consumer inflation is likely to gradually slow toward year-end. Bank of Japan Deputy Governor Shinichi Uchida signaled the Japanese central bank’s meddling before the 10-year yield hits 1.
It’s worth noting that the DXY rose in the last three consecutive weeks before retreating amid mixed US data. That said, the US employment report posted a softer-than-expected figure of 187K, versus 185K prior and 200K market forecasts, whereas the Unemployment Rate eased to 3.5% from 3.6% expected and previous readings. Further, the Average Hourly Earnings reprinted 0.4% MoM and 4.4% YoY numbers by defying the expectations of witnessing a slight reduction in wage growth.
Elsewhere, the hawkish comments from Federal Reserve Governor Michelle Bowman might have recently triggered the USD/JPY rebound as she said that the Fed should remain willing to raise the federal funds rate at a future meeting if the incoming data indicate that progress on inflation has stalled. Previously, Atlanta Federal Reserve Bank President Raphael Bostic said on Friday to Bloomberg, that the central bank is likely to keep
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