The USD/JPY pair extends its winning spell for the fourth trading session on Tuesday.
USD/JPY exhibits strength above 156.00 as the Fed maintains a hawkish tone on the interest rate outlook. Fed Bostic prefers to wait with currentinterest ratesto be confident over the progress in disinflation. Japan’s officials remain worried over weak Yen-induced inflation. The asset strengthens as the US Dollar seems stabilizing due to endorsement for maintaining interest rates at their current levels for a longer period by Fed eral Reserve officials.
On the inflation outlook, Bostic commented that business owners have experienced a decline in pricing power but are confident about economic prospects. Considering overnight futures, the S&P 500 is expected to open on a flat-to-negative note. The US Dollar Index , which tracks the Greenback’s value against six major currencies, rises to 104.70. 10-year US Treasury yields have rebounded to 4.42%.
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