The USD/JPY pair fell to around 157.30 on Friday, losing 0.21% as Japanese authorities warned about potential intervention against excessive currency moves. The Federal Reserve signaled a slower pace of rate cuts, which could support the USD in the near term. Japanese markets are closed for the rest of the week, while traders await the US ISM Manufacturing PMI for December. The Bank of Japan's (BoJ) policy outlook remains uncertain, potentially capping the JPY's upside. The BoJ's quarterly report on regional economic conditions, due next week, may shed light on its next policy decision.
USD/JPY weakens to around 157.30 in Friday’s Asian session, losing 0.21% on the day. Japanese authorities warned about intervention against excessive FX moves. Fed signalled a slower pace of rate cuts, which might lift the USD in the near term. The USD/JPY pair edges lower to near 157.30 during the Asian trading hours on Friday. The verbal intervention from the Japanese authorities provides some support to the Japanese Yen .
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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