The Japanese yen fell to a fresh multi-month low | 13 Noviembre 2024

13 Noviembre 2024, USD/JPY

Event to watch out for today:

15:30 EET. USD - Consumer Price Index

USDJPY:

The Japanese yen (JPY) hit a new low since July 30 against its US counterpart during Wednesday's Asian session, although it managed to defend the psychological 155.00 mark. Despite a rise in Japanese producer prices in October, investors seem convinced that an unstable minority government in Japan could make it difficult for the Bank of Japan (BoJ) to raise interest rates further. In addition, concerns that tariffs promised by U.S. President-elect Donald Trump could significantly impact Japanese exports proved to be a key factor undermining the yen.

In addition, expectations that Trump's inflationary import tariffs could limit the Federal Reserve's (Fed) ability to cut interest rates continue to support elevated US bond yields. This further exacerbates the low-yielding Yen, which, along with the bullish US Dollar (USD), acts as a tailwind for the USD/JPY pair. Meanwhile, the recent drop in JPY raises the possibility of intervention from the Japanese authorities. This could deter JPY bears from making new bets ahead of the release of US consumer inflation data later this Wednesday.

Trading recommendation: Trade predominantly with Buy orders from the current price level.

Up to $20 for each lot in real money - get a guaranteed income by connecting Cashback promotion!

David Johnson
Analyst of «FreshForex» company
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.