The USD/JPY pair faces some selling pressure and drops below the 150.00 psychological level during the Asian session on Thursday.
USD/JPY extends its decline to nearly 148.90 in Thursday’s Asian session. US Fed held its key lending rate steady at its July meeting on Wednesday, but flags cuts 'as soon as' September. The BoJ raised interest rates to levels unseen in 15 years. The pair currently trades around 148.90, down 0.71% on the day. The dovish stance of the Fed eral Reserve and the surprising rate hike by the Bank of Japan weigh on the pair.
Japanese Yen FAQs What key factors drive the Japanese Yen? The Japanese Yen is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors.
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