The Japanese Yen (JPY) continued to weaken against the broadly stronger US Dollar (USD) for the second consecutive day, falling to a three-week low during the Asian session on Friday.
Uncertainty over the likely timing of the Bank of Japan's (BoJ) next interest rate hike continued to weaken the JPY, which failed to find any relief from Japanese consumer inflation figures. In fact, Japan's National Consumer Price Index (CPI) indicated that underlying inflation remains strong, supporting the argument for further policy normalization by the BoJ.
Meanwhile, the US Dollar (USD) maintained its positive bias and rose to its highest level since August 6th amid diminishing odds of more aggressive policy easing by the Federal Reserve (Fed). This provided additional support for the USD/JPY pair and contributed to its intraday positive move beyond the mid-147.00s.
The fundamental backdrop suggests that the path of least resistance for the pair is upward. However, traders may refrain from placing new bets and opt to wait for Fed Chairman Jerome Powell's speech at the Jackson Hole Symposium. (alg)
Source: FXstreet
The Japanese yen held its recent advance to around 156 per dollar on Wednesday, hovering at one-week highs and benefiting mainly from dollar weakness as traders ramped up bets on a US Federal Reserve ...
The Japanese yen held steady near 157 per dollar on Friday (November 21st), after previously weakening steadily. The currency began to "put on the brakes" after Finance Minister Satsuki Katayama signa...
The Japanese yen briefly touched its lowest level since early February before recovering slightly in Tuesday morning's Asian trading session. This slight recovery occurred without strong buying moment...
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...
Hong Kong's equity market commenced Tuesday's trading session with modest gains, as investors displayed cautious optimism. The benchmark Hang Seng Index advanced by 86 points, or 0.33 per cent, to open at 25,945. Supporting the positive opening,...
Fundamentally, Brent crude oil is trending higher today, hovering around USD 63 per barrel, continuing its rebound from its lows in recent weeks. The main catalyst was the OPEC+ meeting, which decided to maintain current production levels until at...
Gold prices weakened in early December, dragged down by investor caution ahead of the Federal Reserve's looming interest rate decision. Amid speculation that the Fed was ready to cut rates again this month, market participants opted to hold back,...
Trading on the Chicago Mercantile Exchange (CME) was halted on Friday (November 28th) following a cooling issue at one of its data centers.
"Due to...
Conflicting signals from the Federal Reserve on the timing and magnitude of U.S. interest rate cuts have accelerated hedging flows into swaptions...
European stocks ended Friday in positive territory as investors digested the end of a choppy month.
The pan-European Stoxx 600 closed the session...
Both the STOXX 50 and the STOXX 600 hovered around the flatline on the final trading day of a volatile November, as the recent rally in global...