Nothing stops the US Dollar. Neither the moderate risk appetite seen on Monday nor the reiterated intervention warnings by diverse economic authorities, the Yen remains pinned to long-term lows near 155.00.
The US Dollar maintains a bid tone and is testing 154.78 high. The Yen remains weighed by interest rate differentials between the Fed and the BoJ. Friday’s BoJ momentary policy statement might give a fresh impulse to the Yen. The pair extended its recovery on Monday, following a spike lower last week, following news of the Israeli attack on Iran. Tehran downplayed the event, suggesting its will to avoid a direct confrontation with Tel Aviv, which the market has welcomed.
Yen's weakness helps Japanese exporters to sell their products on foreign markets but makes imports more expensive in the domestic ones. This has an inflationary impact on prices and forces the BoJ to accelerate its normalization pace. The Japanese central bank meets on Friday, after the release of the anticipated Tokyo CPI figures. Any hint on that lion at the bank’s statement might give some fresh impulse to the Yen.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/JPY Outlook: Hot US Inflation Propels USD/JPY to Worrying LevelsJapanese finance officials issued a further warning centered around the volatility of recent yen weakness, explicitly mentioning USD/JPY levels currently in play
Read more »
USD/JPY faces sell-off near 152.00 as BoJ’s stealth intervention hopes deepenThe USD/JPY pair finds intense selling pressure near historic highs of 152.00 in Wednesday’s late American session.
Read more »
USD/JPY stretches lower to near 151.20 following the BoJ’s Meeting MinutesUSD/JPY continues its decline, nearing 151.20 during the Asian session on Monday.
Read more »
Yen Update: USD/JPY Dips after BoJ Minutes, Concern over Volatile MovesThe minutes from Tuesday’s BoJ meeting confirmed that the inflation target has not been achieved and that hikes will be measured. FX official unimpressed by volatile yen
Read more »
USD/JPY sticks to 151.40 amid BoJ’s cautious approach regarding monetary conditionsUSD/JPY remains calm and hovers around 151.40 during the early European hours on Friday.
Read more »
USD/JPY rebounds from 154.00 as investors digest fears of Japan’s interventionThe USD/JPY pair recovered intraday losses and rebounds to 154.40 in Thursday’s European session.
Read more »