USD/JPY remains below mid-141.00s amid modest USD weakness, FOMC minutes in focus – by hareshmenghani USDJPY Fed Bonds BOJ Currencies
ze on the move and meet with a fresh supply near the 141.50 level amid the prevalent selling bias surrounding the US Dollar.
Despite the recent hawkish comments by several Fed officials, investors now seem convinced that the US central bank will slow the pace of its policy tightening. In fact, the current market pricing indicates a greater chance of a relatively smaller 50 bps rate hike at the next FOMC policy meeting in December. This, in turn, has been a key factor behind the recent sharp pullback in the US Treasury bond yields and continues to act as a headwind for the greenback.
The Fed, however, is still far from pausing its rate-hiking cycle and is expected to continue raising borrowing costs to curb inflation. This should limit the downside for the US bond yields and lend some support to the buck. Hence, the market focus will remain glued to the release of the November FOMC meeting minutes, due later during the US session. Investors will look for clues about future rate hikes, which will influence the near-term USD price dynamics.
In the meantime, a more dovish stance adopted by the Bank of Japan , along with signs of stability in the equity markets, could undermine the safe-haven Japanese Yen and offer support to the USD/JPY pair. In fact, BoJ, so far, has shown no inclination to hike interest rates. Moreover, BoJ Governor Haruhiko
reiterates last week that the central bank will stick to its monetary easing to support the economy and achieve the 2% inflation target in a stable fashion.
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 Price Analysis: Pullback needs validation from 141.00USD/JPY Price Analysis: Pullback needs validation from 141.00 – by anilpanchal7 USDJPY Technical Analysis ChartPatterns SwingTrading SupportResistance
Read more »
USD/JPY recovers a few pips from daily low, finds some support near 141.00 markThe USD/JPY pair struggles to capitalize on the previous day's breakout momentum beyond the 100-day SMA and meets with a fresh supply on Tuesday. The
Read more »
USD/JPY: Japanese finance ministry must hope for USD weakness – CommerzbankAmong the strongest losers of yesterday's USD rally was the Japanese Yen. In order to depress the USD/JPY pair, we need a sustainably weaker Dollar un
Read more »
USD/JPY traces sluggish Treasury yields below 142.00, snaps four-day uptrendUSD/JPY traces sluggish Treasury yields below 142.00, snaps four-day uptrend – by anilpanchal7 USDJPY YieldCurve RiskAppetite CentralBanks Coronavirus
Read more »
USD/JPY Price Analysis: The bears are lurking around daily resistance, 140.50 exposedAs per the prior analysis, USDJPY Price Analysis: Bull move in and eye 143.00 area, the pair has followed the forecasted trajectory from the trendline
Read more »
USD/JPY: Further gains likely above 142.50 – UOBFurther upside appears in store for USD/JPY above 142.50 in the short term, note Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Gr
Read more »