USD/JPY pares intraday recovery gains, hangs near multi-month low set earlier this Monday – by hareshmenghani USDJPY Fed Inflation BOJ Currencies
owever, retreats a few pips from the daily high and slips back below the mid-128.00s during the mid-European session.
The US Dollar rebounds after hitting a seven-month low, which, in turn, is seen as a key factor lending some support to the USD/JPY pair. The intraday USD uptick, meanwhile, lacks any obvious fundamental catalyst and remains capped amid firming expectations for a less aggressive policy tightening by the Fed. In fact, the markets are now pricing in a smaller 25 bps lift-off in February and expect the US central bank to pause its rate-hiking cycle, possibly after the March FOMC meeting.
The speculations were fueled by the latest US consumer inflation figures released last week, which showed that the headline CPI fell in December for the first time in more than 2-1/2 years. This should keep a lid on any meaningful upside for the greenback. The Japanese Yen, on the other hand, continues to draw support from bets that the Bank of Japan will tweak its yield control policy further, which, in turn, contributes to capping the USD/JPY pair's attempted recovery.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Weekly Forex Forecast \u2013Gold, EUR/USD, USD/JPY, AUD/USDThe difference between success and failure in Forex / CFD trading is highly likely to depend mostly upon which assets you choose to trade each week.
Read more »
USD/JPY bulls move in and eye a correction towards 129.50USD/JPY is pressured due to a number of impactful macro themes, including the Bank of Japan's recent pivot, the Federal Reserve's decreasingly hawkish
Read more »
USD/JPY slides toward 127.00 as Japanese Yen keeps rallying ahead of BoJ decisionUSD/JPY is holding the latest downtick below 127.50, having renewed eight-month lows at 127.24. Bears remain in control at the start of the week on Mo
Read more »
USD/JPY Price Analysis: Attempts recovery around 127.00 as focus shifts to BOJ policyThe USD/JPY pair has retreated after sensing buying interest around 127.20 in the early European session. The asset has followed the footprints of the
Read more »
Pairs in Focus This Week-GBP/USD, EUR/USD, USD/JPY, AUD/USDGet the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of January 15th, 2022 here.
Read more »
USD/JPY can trade down to 126.50 before BoJ’s meeting – INGThe Japanese Yen remains very much in demand ahead of Wednesday's BoJ decision. In the view of economists at ING, the USD/JPY pair could slump to 126.
Read more »