The USD/JPY pair attracts some dip-buying on the first day of a new week and for now, seems to have stalled its retracement slide from the 150.75-150.
USD/JPY kicks off the new week on a positive note and recovers a part of Friday’s losses. The divergent BoJ-Fed policy outlook is seen as a key factor lending support to the major. Intervention fears might keep a lid on further gains ahead of the central bank event risks. 80 area, or the highest level since October 2022 touched last week. Spot prices, however, lack bullish conviction and currently trade around the 149.70-149.75 region, up less than 0.
Furthermore, the US Commerce Department reported that consumer spending increased more than expected in September and elevated monthly inflation print. This indicated that the US economy remains on a firm footing and supports prospects for a further tightening by the Fed. Investors, however, seem convinced that the US central bank will maintain the status quo for the second straight time at the end of a two-day policy meeting on Wednesday.
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