The USD/JPY pair clings to gains near 159.00 in Friday’s Asian session after a winning spell for six trading sessions.
USD/JPY moves toward 160.00 on multiple tailwinds. The BoJ could further delay plans to trim bond-buying as core inflation decelerates. The US Dollar will be guided by the preliminary US S&P Global PMI s for June. The asset is expected to extend its upside towards a multi-year high near 160.00 as investors expect that the Bank of Japan could further delay plans of reducing the amount of bond-buying beyond the July meeting.
50 but remains broadly firm as investors expect that the Federal Reserve will lag behind other central banks in an attempt to pivot to the policy-normalization process. Fed policymakers have already signaled that there will be only one rate cut this year, which is supposed to be announced in the last quarter. Contrary to the Fed’s latest interest rate projections, financial markets expect there will be two rate cuts, and the policy expansion process will start from the September meeting.
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