The Japanese Yen (JPY) continues to weaken on Wednesday, influenced by a broad market downturn driven by risk aversion sentiment.
The Japan ese Yen struggled as BoJ’s Seiji Adachi emphasized the potential consequences of frequent changes in monetary policy. The emergence of risk aversion has supported the US Dollar, underpinning the USD/JPY pair. Minneapolis Fed President Neel Kashkari suggested the possibility of a rate hike. The Japan ese Yen continuesto weaken on Wednesday, influenced by a broad market downturn driven by risk aversion sentiment.
In its report on Monday, the Japanese Cabinet Office stated that the government maintained its view on the economy unchanged for the third consecutive month in May. It noted that the Japanese economy continues to recover at a moderate pace, although there are signs of a recent pause in growth. Technical Analysis: USD/JPY moves above the major level of 157.00 The USD/JPY pair trades around 157.30 on Wednesday.
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