The Japanese Yen (JPY) edges higher against its American counterpart during the Asian session on Wednesday, albeit it lacks follow-through and remains confined in a familiar range held over the past two weeks or so. Investors remain on alert amid the possibility of intervention by Japanese authorities to prevent a destabilising fall in the domestic currency.
The Japanese Yen struggles to capitalize on the overnight modest uptick against the USD . The BoJ’s dovish stance undermines the JPY, though intervention fears limit the downside. Reduced bets for a June Fed rate cut should lend support to the Greenback and USD /JPY. The Japanese Yen (JPY) edges higher against its American counterpart during the Asian session on Wednesday, albeit it lacks follow-through and remains confined in a familiar range held over the past two weeks or so.
Investors remain on alert amid the possibility of intervention by Japanese authorities to prevent a destabilising fall in the domestic currency. This, along with a generally weaker sentiment around the equity markets, turns out to be a key factor lending some support to the safe-haven JPY. The US Dollar (USD), on the other hand, is seen consolidating the previous day's retracement slide from a five-month top and contributes to the mildly offered tone surrounding the USD/JPY pai
Japanese Yen USD Boj Intervention Fed Rate Cut Equity Markets
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