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Fed will be steadfast in raising rates

Fed will be steadfast in raising rates | 04 August 2022

04 August 2022, USD/JPY

Fed will be steadfast in raising rates

USDJPY trading plan:

Federal Reserve officials voiced their determination again to rein in high inflation, although one noted a half-percentage-point hike in the U.S. central bank's key interest rate next month might be enough to march toward that goal. "I start from the idea that 50 basis points would be a reasonable thing to do in September because I believe I'm seeing evidence in my contact conversations, and in the observations of the world I see, that there are some bright spots for me," San Francisco Fed President Mary Daly said. St. Louis Fed President James Bullard also said the central bank will be steadfast in raising rates to bring inflation back down. "We are going to be tough and get that to happen," Bullard said. "I think we can take robust action and get back to 2%."

Investment idea: buy 133.85 and take profit 134.54.

David Johnson
Analyst of «FreshForex» company
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