The Japanese Yen (JPY) kicks off the new week on a softer note as the latest optimism over a trade deal between the US and the European Union (EU) undermines traditional safe-haven assets. Furthermore, reduced bets for an immediate interest rate hike by the Bank of Japan (BoJ), amid signs of cooling inflation in Japan and domestic political uncertainty, keep the JPY bulls on the defensive.
Meanwhile, Japan's trade deal with the US keeps the door open for an imminent BoJ rate hike this year, which, in turn, is seen acting as a tailwind for the JPY. This, along with subdued US Dollar (USD) price action, might keep a lid on any further gains for the USD/JPY pair. Traders might also refrain from placing aggressive directional bets and opt to wait for this week's key central bank events and data risks.
The US Federal Reserve (Fed) will announce its decision at the end of a two-day meeting on Wednesday, followed by the BoJ policy update on Thursday. Apart from this, US macro releases – the Advance Q2 GDP print, the Personal Consumption Expenditure (PCE) Price Index, and the Nonfarm Payrolls (NFP) report – will drive the US Dollar (USD) and provide a fresh impetus to the USD/JPY pair.
Source: FXstreet
The Japanese yen slipped to around 147.5 per dollar on Friday, marking its second consecutive day of losses as markets digested the implications of the new US-Japan trade agreement. The deal imposes a...
The Japanese yen strengthened past 146 per dollar on Thursday, reaching a two-week high as optimism surrounding the new US-Japan trade deal lifted demand. The agreement sets a 15% tariff on Japanese e...
The Japanese yen held its recent advance to around 146.5 per dollar on Wednesday, hovering at a near two-week high following news of a trade agreement between the US and Japan. The deal, announced by ...
The Japanese yen hovered around 147.5 per dollar on Tuesday after gaining about 1% in the previous session, as investors continued to digest the weekend's election outcome. While the ruling coalition...
The Japanese yen rose toward 148 per dollar on Monday, recovering some of last week's losses after the ruling coalition lost its majority in the weekend's upper house election, bringing a new wave of ...
The US Dollar (USD) starts the week on a firmer note, extending its modest recovery since Thursday, as easing global trade tensions lift investor sentiment. Interestingly, the Greenback, which typically underperforms in a risk-on environment, is...
Gold is trading in a narrow range on Monday, as economic data, easing trade tensions, and the fragility of the US Dollar continue to influence price action. At the time of writing, Gold is trading near $3,310 per ounce, down from earlier highs...
U.S. President Donald Trump set a new deadline on Monday of 10 or 12 days for Russia to make progress toward ending the war in Ukraine or face consequences, underscoring frustration with Russian President Vladimir Putin for the 3-1/2-year-old...
The S&P 500 rose 0.4% on Friday (July 25), notching its fifth consecutive record close—its longest streak in more than a year—while the Nasdaq...
European Commission President Ursula von der Leyen said she will travel to Scotland this weekend to meet with US President Donald Trump, as both...
European governments and companies reacted with a mix of relief and concern on Monday (July 28th) to the framework trade agreement reached with US...
The United States and European Union have reached a landmark trade agreement that includes a 15% tariff on EU goods entering the U.S., President...