The Japanese Yen (JPY) is building on the previous day's goodish recovery from over a two-week low and scaling higher for the second consecutive day against a broadly retreating US Dollar (USD).
Investors remain on edge amid persistent uncertainties surrounding US President Donald Trump's trade policies, which, in turn, benefit the safe-haven JPY.
The USD, on the other hand, is undermined by prospects for more interest rate cuts by the Federal Reserve (Fed) this year, bolstered by FOMC Minutes on Wednesday. This, in turn, contributes to the USD/JPY pair's intraday slide back below the 146.00 round figure during the Asian session.
Meanwhile, investors now seem convinced that rising trade tensions would add to woes for Japan's economy and force the Bank of Japan (BoJ) to forgo raising interest rates this year.
The expectations were reaffirmed by Japan's Producer Price Index (PPI) released earlier this Thursday, which hinted that inflation pressures might be cooling off.
This, along with domestic political uncertainty, might hold back the JPY bulls from placing aggressive bets and help limit further losses for the USD/JPY pair. Traders now look to the US Weekly Initial Jobless Claims, which, along with speeches by influential FOMC members, would drive the Greenback.
Source: FXStreet
The USD/JPY pair declines on Tuesday to around 153.50 at the time of writing, down 0.40% on the day, as the Japanese Yen (JPY) attracts fresh safe-haven flows amid renewed global risk aversion. Fears ...
The Japanese yen remains under pressure against the strengthening US dollar, reaching its lowest level since last February. Markets remain uncertain about when the Bank of Japan (BoJ) will raise inter...
The Japanese yen strengthened, breaking through 152 per US dollar on Wednesday (October 29th), continuing its two-day rally. Market participants are positioning themselves ahead of this week's Bank of...
The USD/JPY pair extends the rally to a two-week high near 152.65 during the early Asian session on Friday. The Japanese Yen (JPY) weakens against the US Dollar (USD) as traders weigh fresh US sanctio...
The Japanese yen weakened earlier this week following reports that the Liberal Democratic Party (LDP) and the Japan Innovation Party (JIP) had agreed to form a coalition government. This agreement ope...
Crude prices recovered from a midday dip on Friday on hopes Hungary can use Russian crude oil as U.S. President Donald Trump met Hungary's Prime Minister Viktor Orban at the White House. Brent crude futures settled at $63.63 a barrel, up 25 cents...
US stocks rebounded from early losses to close mostly higher on Friday amid hopes that Congress members were making progress toward ending the government shutdown. The S&P 500 and the Dow Jones closed 0.3% higher, while the tech-heavy Nasdaq...
European stocks fell on Friday as investors digested more quarterly earnings, but weekly losses were inevitable, with concerns regarding overheated valuations evident. The DAX index in Germany dropped 0.8% and the CAC 40 in France declined 0.2%,...
Asian markets opened higher, following Wall Street's rebound. The Nikkei and Kospi jumped around 1% at the open, while US stock futures fluctuated...
The U.S. Supreme Court's tough questioning of President Donald Trump's global tariffs has fueled growing speculation that they will be overturned,...
European stocks closed slightly higher on Wednesday, tracking the rebound in North American equities as speculation on future AI returns continued...
European stocks opened lower on Thursday, as investors reacted to another flurry of corporate earnings.
The pan-European Stoxx 600 was 0.3% lower...