Forex Analysis by Investing.com (Günay Caymaz) covering: USD/JPY, US Dollar Index Futures. Read Investing.com (Günay Caymaz)'s latest article on Investing.com
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US inflation data will be pivotal. Last month, the US recorded its first negative monthly inflation in four years, with annual inflation dropping to 3%. If this trend continues, especially with an annual rate falling below 3%, it could provide clarity on the Federal Reserve's stance and potentially ease market pressures. Lower inflation may boost risk appetite by signaling a potential decrease in borrowing costs.
Continued weakness in the dollar will likely depend on further indications of the Fed's potential rate cuts. A daily close above 103.5 could signal strength in the US economy and suggest that the Fed might act more aggressively on rates than previously anticipated.pair fell sharply over the past two weeks due to the unwind of carry trades, dropping to the 141 level, which mirrors early-year lows.
Since last month, USD/JPY's downtrend began with speculation about a Bank of Japan policy shift and accelerated as these expectations were realized. Investors rapidly closed low-cost yen borrowings in favor of higher-yield assets.
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