USD/JPY continues its ascent, breaking past 154.00, driven by strong US economic data and risk aversion from Middle East tensions. March's robust US Retail Sales highlight ongoing consumer strength, pushing up US Treasury yields. Japanese officials voice worries over swift currency fluctuations, staying in close contact with global partners on financial and FX market developments. Nevertheless, the USD/JPY exchanges hand at 154.37, up by 0.71, refreshing 34-year highs.
Fed’s Williams look for cuts in 2024 In the meantime, New York Fed President John Williams said that his baseline scenario projects rate cuts “will likely start this year.” He thinks the policy is restrictive, adding that strong fundamentals are driving consumer spending. On the Japanese front, officials remain vocal, emphasizing that fast Forex moves are undesirable and should reflect fundamentals.
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Source: FXStreetNews - 🏆 14. / 72 Read more »