The USD/JPY pair extends its downside to 155.00 in Tuesday’s European session.
USD/JPY falls sharply to near 155.00 even though the US Dollar gains ground. The possibility of the Fed returning to policy normalization in September improves. Weak Japanese Yen boosts price pressures. The asset weakens as the Japanese Yen strengthens amid expected to that the Bank of Japan would tighten its policy further. A weak Yen against other currencies has resulted in strong demand for Japanese exports, which is boosting price pressures.
The higher possibility of the Fed reducing interest rates in September is prompted by concerns over the United States economic strength due to the central bank’s maintaining a restrictive framework for a longer period. This week, the US Dollar is expected to remain highly volatile as the US ISM Services PMI and the Nonfarm Payrolls reports are due to be published on Wednesday and Friday, respectively.
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