USD/JPY looks to build on momentum beyond 141.00, highest since November 2022 – by hareshmenghani USDJPY TradeBalance BOJ Fed Currencies
The BoJ’s dovish outlook and weaker Japanese trade data weigh heavily on the JPY.Traders now look to the US macro data for some impetus ahead of the BoJ on Friday.pair catches aggressive bids during the Asian session on Thursday and touches the 141.00 mark for the first time since November 2022, confirming a breakout through a two-week-old trading range.
The Japanese Yen weakens in reaction to the weaker domestic data, showing that imports tumbled 9.9% in May and the trade deficit widened more than anticipated, to ¥1,372.5 billion in May. This validates expectations that the Bank of Japan will stick to its ultra-easy policy stance to support the economy and ensure that the recent positive signs are sustained.
The USD Index , which tracks the Greenback against a basket of currencies, is seen building on the overnight late rebound from a one-month low in the wake of the Federal Reserve's hawkish commentary. It is worth recalling that the US central bank, as anticipated, held interest rates steady at the end of a two-day policy meeting on Wednesday, but signalled that borrowing costs will increase by another 50 bps by end-December.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/JPY remains depressed below mid-139.00s, downside seems limited ahead of US CPIThe USD/JPY pair struggles to capitalize on its gains registered over the past two days and comes under some selling pressure during the Asian session
Read more »
USD/JPY continues its non-directional action below 140.00 ahead of US CPI
Read more »
USD/JPY hits fresh lows under 139.00 after US inflation dataThe USD/JPY dropped sharply following the release of US inflation data, reaching a low of around 139.00 and remaining under pressure ahead of Wall Str
Read more »
USD/JPY nears 140.00 mark following US CPI reportUSD/JPY rose after the release of the US inflation report in the United States (US) and cemented the case for a Federal Reserve (Fed) pause on its tig
Read more »
USD/JPY trades with mild negative bias around 140.00, downside seems limited ahead of FedUSD/JPY trades with mild negative bias around 140.00, downside seems limited ahead of Fed – by hareshmenghani USDJPY Inflation Fed RiskAppetite Currencies
Read more »
USD/JPY recovers modestly from 140.00 as Fed policy comes into pictureThe USD/JPY pair has shown a modest recovery from the crucial support of 140.00 in the early European session. The asset has majorly remained inside t
Read more »