USD/JPY consolidates near two-month top, remains below 160.00 amid risk of intervention

  • 📰 FXStreetNews
  • ⏱ Reading Time:
  • 25 sec. here
  • 6 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 72%

USDJPY News

BOJ,Fed,Inflation

The USD/JPY pair oscillates in a narrow trading range during the Asian session on Wednesday and is currently placed, around the 159.70-159.75 region, or just below a nearly two-month peak touched earlier this week.

USD/JPY continues to draw some support from the divergent Fed-BoJ policy stance. Fears that authorities will intervene to support the JPY cap the upside for the major. Traders also seem reluctant ahead of the crucial US PCE Price Index data on Friday. The upside, meanwhile, remains capped amid fears that Japanese authorities or the Bank of Japan might intervene in the markets to prop up the domestic currency.

Fed Governor Lisa Cook said it would be appropriate to cut interest rates at some point given significant progress on inflation and a gradual cooling of the labor market, though remained vague about the timing of the easing. That said, signs of easing inflationary pressures in the US keep hopes alive for the first interest rate cut by the Fed in September. This, in turn, is holding back the USD bulls from placing aggressive bets and capping the upside for the USD/JPY pair.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 14. in COİN

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

USD/JPY approaches 160.00 as BoJ might delay plans to trim bond-buying operationsThe USD/JPY pair clings to gains near 159.00 in Friday’s Asian session after a winning spell for six trading sessions.
Source: FXStreetNews - 🏆 14. / 72 Read more »