The USD/JPY pair weakened near 147.60 during the early Asian session on Wednesday. The US dollar (USD) remained weak against the Japanese yen (JPY) as traders continued to digest various comments from Fed officials, while key indicators of US business activity slightly disappointed investors. On Wednesday, US New Home Sales data for August will be released.
Fed Chairman Jerome Powell said on Tuesday that weakness in the labor market outweighed concerns about stubborn inflation, which led to his decision to cut the benchmark interest rate at last week's September meeting. However, Powell further stated that he was comfortable with the current policy path, although he indicated the possibility of further cuts if the FOMC sees the need for more accommodative measures.
Money markets are currently pricing in a nearly 90% probability of a Fed rate cut in October, down slightly from 92% the day before, according to the CME FedWatch tool.
On the other hand, political uncertainty in Japan following the resignation of Prime Minister Shigeru Ishiba could weigh on the JPY and provide some fresh impetus for the currency pair. The Liberal Democratic Party (LDP) leadership election will take place on October 4, and the outcome could influence the timing of the Bank of Japan's (BoJ) next interest rate hike if a dovish candidate is elected. (alg)
Source: FXstreet
The Japanese yen strengthened for the fifth straight day on Thursday, remaining near the two-week high reached the previous day as the US dollar weakened. Markets are increasingly accepting that the B...
The Japanese Yen (JPY) gains traction against the US Dollar (USD) on Tuesday, with USD/JPY extending losses for a third straight day as the looming United States (US) government shutdown weighs on the...
The Japanese Yen (JPY) attracts some buyers during the Asian session on Thursday and recovers a part of the previous day's heavy losses in reaction to the hawkish Bank of Japan (BoJ) expectations. In...
The USD/JPY pair strengthened near 148.80 during the early Asian session on Thursday (September 25th). The US dollar (USD) strengthened near a three-week high against the Japanese yen (JPY) due to a r...
The Japanese Yen (JPY) edges lower during the Asian session on Thursday in reaction to the weaker-than-expected release of Core Machinery Orders data from Japan. This, along with a further US Dollar (...
The S&P 500 closed mostly flat on Friday, the Dow Jones extended its record run, rising 240 points finisheing at 46,758 after briefly surpassing 47,000 during the session, while the Nasdaq slipped 0.3% as the US government shutdown entered its...
Federal Reserve (Fed) Bank of Dallas President Lorie Logan struck a nervous tone on Friday, warning that despite a rapidly-weakening labor market, a lot of potential policy moves could accidentally spark another round of renewed inflationary...
If it just seems like the first Friday of the month wasn't the same without being able to pore through the Bureau of Labor Statistics' hotly watched monthly jobs report, don't worry. You probably didn't miss much. While the BLS has gone dark with...
The Institute for Supply Management's (ISM) data showed the Manufacturing PMI edging higher to 49.1 in September, up from 48.7 in August and...
The bottom line: The release of official US data is delayed because the federal government is currently in shutdown. While the budget hasn't been...
Asian markets opened higher, following a global rally that pushed world indexes to new records, despite the US entering its first government...
Europe's STOXX 600 closed at a record high on Wednesday, with healthcare stocks leading the way after a U.S.-Pfizer deal reduced uncertainty in the...