The USD/JPY pair trades with mild losses near 154.65 on Wednesday during the early Asian trading hours.
USD/JPY snaps the two-day winning streak around 154.65 in Wednesday’s early Asian session. Fed’s Powell emphasized that the current level of policy will likely stay in place until inflation gets closer to target. BoJ is shifting to a more discretionary policy-setting approach, with less focus on inflation.
This, in turn, continues to weigh on the JPY and create a tailwind for the USD/JPY pair. Investors will take more cues from the BOJ's fresh quarterly growth and price projections due at its April 25–26 policy meeting, for fresh impetus. Meanwhile, the geopolitical tensions in the Middle East might lift the JPY and limit the upside of the USD/JPY pair.
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