The Japanese Yen (JPY) retraces its recent gains on Thursday as the US Dollar (USD) advances following a hawkish hold from the US Federal Reserve (Fed), boosting the USD/JPY pair.
The Japan ese Yen edges lower as the US Dollar appreciates on hawkish hold from the Fed on Wednesday. The downside of the Japan ese Yen could be limited as caution prevails ahead of the BoJ policy decision on Friday. CME FedWatch Tool indicates that the likelihood of a Fed rate cut in September decreased to 61.5, down from 69.4% a week earlier.
policymakers now anticipate just one rate cut this year, down from the three that were projected in March. The CME FedWatch Tool indicates that the likelihood of a Fed rate cut in September by at least 25 basis points has decreased to 61.5, down from 69.4% a week earlier. Investors await the US weekly Initial Jobless Claims and Producer Prices Index on Thursday to gain further impetus on economic conditions in the United States .
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