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The Japanese Yen remains near multi-decade lows amid BoJ's dovish outlook. Bets on a Fed rate cut will lift USD to new year-to-date highs and provide further support for USD/JPY. Intervention concerns and softer risk levels could help limit deeper losses in the safe-haven JPY.
On the other hand, the US Dollar (USD) extended its recent upward trajectory and climbed to its highest level since November on expectations that the Federal Reserve (Fed) will delay interest rate cuts. This suggests that the wide differential in rates between the US and Japan will persist for some time, which could continue to spur capital outflows from the JPY and support the prospect of a bullish move. next in the short term for the USD/JPY pair. Traders are now looking at US macro data, which, along with speeches from influential FOMC members, including Fed Chairman Jerome Powell, could influence the USD and create a driving numbers for currency pairs.
The Japanese Yen remains near multi-decade lows amid BoJ's dovish outlook. Bets on a Fed rate cut will lift USD to new year-to-date highs and provide further support for USD/JPY. Intervention concerns and softer risk levels could help limit deeper losses in the safe-haven JPY.
On the other hand, the US Dollar (USD) extended its recent upward trajectory and climbed to its highest level since November on expectations that the Federal Reserve (Fed) will delay interest rate cuts. This suggests that the wide differential in rates between the US and Japan will persist for some time, which could continue to spur capital outflows from the JPY and support the prospect of a bullish move. next in the short term for the USD/JPY pair. Traders are now looking at US macro data, which, along with speeches from influential FOMC members, including Fed Chairman Jerome Powell, could influence the USD and create a driving numbers for currency pairs.
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