USD/JPY rallies to a two-day high above 134.00 amidst mixed US data ahead of BoJ’s decision

USD/JPY rallies to a two-day high above 134.00 amidst mixed US data ahead of BoJ’s decision – by christianborjon USDJPY Currencies Majors BOJ

decision. The USD/JPY is trading at 133.96 and gains 0.23%.Wall Street finished with substantial gains. The US Bureau of Economic revealed that the US economy slowed to 1.1% in the first quarter of 2023, below estimates of 2%. Although the reading remained positive, it trailed the 2.6% rise in Q4 2022; we should remember that the Federal Reserve projections estimate growth at 0.4%.

As a reaction, the USD/JPY edged higher, printing a two-day high of 134.19, before retracing some gains. The US 10-year Treasury bond yield, which correlates closely to the USD/JPY pair, climbs 7.5 bps, at 3.524%, a tailwind for the major.

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