The Japanese Yen (JPY) maintained its positive bias through the Asian session on Thursday (3/27), which, along with a broadly weaker US Dollar (USD), kept the USD/JPY pair pressured above the psychological 150.00 level. Concerns about the potential economic impact of US President Donald Trump's trade tariffs dampened investors' appetite for riskier assets. Additionally, hawkish sentiment surrounding the Bank of Japan's (BOJ) policy outlook, supported by strong wage growth for the third straight year, turned out to be a key factor supporting the JPY.
Meanwhile, the Federal Reserve's (Fed) forecast for two 25 basis point interest rate cuts by 2025, which prompted a modest pullback in the USD from a three-week high, marked a major divergence from the BOJ's hawkish expectations. This could lead to a further narrowing of the US-Japan interest rate differential and support prospects for a further near-term appreciation for the lower-yielding JPY. However, traders may prefer to wait for the release of Tokyo CPI and US Personal Consumption Expenditure (PCE) Price Index on Friday before placing fresh directional bets.(Newsmaker23)
Source: FXstreet
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