USDJPY adds 1.0% to pare US inflation-led slump above 142.00, US Michigan CSI eyed – by anilpanchal7 USDJPY BOJ YieldCurve RiskAppetite Inflation
ng so, the yen pair takes clues from the market’s slightly sour sentiment, as well as inactive US Treasury yields, amid the sluggish session.
The reason for an inactive bond market could be linked to the bank holidays in the US and Canada, as well as the market’s waiting for more clues to confirm the slower rate hikes of the US Federal Reserve .to defend the Yen and the Bank of Japan’s defense of the easy money policy, while also hoping for an economic rebound in the next years, also underpin the USDJPY rebound.
Following the data, Dallas Federal Reserve President Lorie Logan said that October CPI inflation data is a welcome relief while adding that may soon be appropriate to slow pace of rate increases. On the same line, Federal Reserve Bank of Philadelphia President Patrick Harker said on Thursday that the US Federal Reserve could slow the rate hike pace in the coming months, as reported by Reuters.
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