USD/JPY struggles to recover from the previous day’s losses ahead of the release of the US Consumer Price Index (CPI), treading waters around 146.60 d
The Japanese Yen strengthened due to the hawkish comments by BoJ Governor Kazuo Ueda.USD/JPY struggles to recover from the previous day’s losses ahead of the release of the US, treading waters around 146.60 during the Asian session on Tuesday. The pair experienced downward pressure due to the bullish comments from the Bank of Japan in addition to the lackluster performance of the US Dollar .
In an interview with the Yomiuri Shimbun newspaper, Governor Ueda stated that by the end of the year, there could be a change in the negative interest rates set by the Japanese central bank, provided that the data supports the notion that the Bank of Japan is making progress towards achieving its 2% annual inflation target. beats around 104.60, snapping losses on the back of positive performance of United States bond yields. The yield on the 10-year US Treasury bond improved to 4.
Core CPI figures are expected to remain unchanged at 0.2%. Any deviations from these inflation figures could lead to rapid shifts in the market's bias towards the US Dollar .