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Fed still have more work to do

Fed still have more work to do | 06 July 2023

06 July 2023, USD/JPY

Fed still have more work to do

USDJPY trading plan:

Federal Reserve Bank of New York President John Williams said it was the right move for the central bank to hold rates steady three weeks ago, while hinting at some point it may have to raise rates again amid ongoing economic strength. “We still have more work to do” to balance supply and demand and get inflation down, Williams said an event at his bank. He said he’ll be “data dependent” in thinking about future steps for the central bank but added the data support the idea the Fed may need to raise rates further at some point. Williams said that inflation is still too high for his comfort levels, although he also acknowledged price pressures have eased.

Investment idea: buy 144.50 and take profit 145.11.

David Johnson
Analyst of «FreshForex» company
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