The Japanese Yen (JPY) sticks to its negative bias against a mildly positive US Dollar (USD), allowing the USD/JPY pair to gain some positive traction for the second straight day on Tuesday and hold steady above the 148.00 mark through the Asian session.
Concerns that Trump could impose fresh tariffs on Japan, along with a generally positive tone around the equity markets, turn out to be key factors undermining the safe-haven JPY.
Data released earlier today showed that Japan's annual wholesale inflation – Producer Price Index (PPI) – rose 4.0% in February, underscoring broadening inflationary pressure.
Adding to this hopes that bumper wage hikes seen last year will continue this year remain supportive of the growing market acceptance that the Bank of Japan (BoJ) will hike interest rates further. This might hold back the JPY bears from placing aggressive bets.
Moreover, the recent sharp narrowing of the rate differential between Japan and other countries should contribute to limiting losses for the lower-yielding JPY.
The USD, on the other hand, might struggle to lure buyers amid expectations that the Federal Reserve (Fed) will cut rates several times this year amid worries about a tariff-driven US economic slowdown. This, in turn, should cap the USD/JPY pair ahead of the US consumer inflation figures.
Source: FXStreet
The yen fell broadly on Monday following news that Japanese Prime Minister Shigeru Ishiba had resigned, while the dollar was nursing losses after tumbling on a weak U.S. jobs report that cemented expe...
The Japanese Yen (JPY) maintains its offered tone through the Asian session on Wednesday amid heightened domestic political and trade-related uncertainties. Furthermore, the lack of hawkish signals fr...
The USD/JPY pair trades on a stronger note around 148.50 during the early Asian session on Wednesday. Heightened political uncertainty in Japan weighs on the Japanese Yen (JPY) against the US Dollar (...
The yen strengthened to around 146.8 per dollar on Monday, recovering losses from the previous session as the greenback stayed under pressure from expectations of Federal Reserve rate cuts. Traders ar...
The USD/JPY pair gains ground to around 147.20 during the early Asian session on Monday. The Japanese Yen (JPY) softens against the US Dollar (USD) as cooling inflationary pressures in Japan undermine...
The US Bureau of Labor Statistics reported on Tuesday that the preliminary estimate of the Current Employment Statistics (CES) national benchmark revision to total Nonfarm employment for March 2025 is -911,000, or -0.6%. The United States (US)...
US stocks edged higher on Tuesday, with the three major averages up around 0.1%, as investors continued to bet on a Federal Reserve rate cut next week. Markets are also awaiting the BLS's preliminary revision to employment levels for the 12 months...
Gold (XAU/USD) continued its record-breaking rally on Tuesday to a new all-time high near $3,660, marking the third consecutive day of gains and entering uncharted territory. At the time of writing, XAU/USD was trading around $3,650, up nearly...
The United States (US) Bureau of Labor Statistics (BLS) will publish the 2025 preliminary benchmark revision to the Establishment Survey Data on...
Russian forces attacked a thermal power plant in the Kyiv region as part of an overnight attack, Ukraine's Energy Ministry said on Monday,...
Wall Street kicked off the week with gains on Monday as investors positioned ahead of a data-heavy week that includes two key inflation reports...
Asia-Pacific markets traded mostly higher Monday as investors assessed the resignation of Japan's prime minister and eyed key economic data in the...