The Japanese Yen (JPY) extends its sideways consolidative price move during the Asian session on Tuesday and remains well within the striking distance of the YTD low against its American counterpart.
The Japanese Yen continues with its struggle to gain any meaningful traction on Tuesday. Intervention fears lend some support, while the BoJ policy uncertainty acts as a headwind. Traders look forward to the BoJ core CPI for a fresh impetus ahead of the US macro data. The Japanese Yen extends its sideways consolidative price move during the Asian session on Tuesday and remains well within the striking distance of the YTD low against its American counterpart.
Chicago Fed President Austan Goolsbee noted that three cuts in 2024 were in line with his thinking, though the US central bank needs to see progress in inflation and strike a balance with its dual mandate. Separately, Fed Governor Lisa Cook said inflation has fallen considerably, though the path of disinflation, as expected, has been bumpy and uneven, while the labor market has remained strong.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Japanese Yen Analysis & Setups: USD/JPY, EUR/JPY, GBP/JPYThis article provides an in-depth analysis of the technical outlook for USD/JPY, EUR/JPY, and GBP/JPY, dissecting key resistance and support levels crucial for strategic risk management in position building.
Read more »
Japanese Yen Outlook & Market Sentiment: USD/JPY, EUR/JPY, GBP/JPYThis article provides an in-depth examination of retail sentiment on the Japanese yen across three key FX pairs: USD/JPY, EUR/JPY and GBP/JPY, exploring potential scenarios based on contrarian signals.
Read more »
Japanese Yen (USD/JPY) Rally Continues, BoJ Policy Decision ImminentTuesday’s Bank of Japan policy decision may see the central bank lift interest rates out of negative territory for the first time since January 2016
Read more »
FOMC could test Tokyo’s JPY weakness appetiteThe Japanese Yen (JPY) clearly underperformed on the back of the BoJ announcement.
Read more »
Japanese Yen Outlook: Yen Appeal Proves Short-lived, Wage Data in FocusThe Japanese Yen has surrendered the majority of its gains just 24 hours after BoJ Board Member Hajime’s calls for policy normalisation. Huge focus on wage data this month
Read more »
Yen Update: USD/JPY Dips after BoJ Minutes, Concern over Volatile MovesThe minutes from Tuesday’s BoJ meeting confirmed that the inflation target has not been achieved and that hikes will be measured. FX official unimpressed by volatile yen
Read more »