08 tháng tư 2024, USD/JPY
USDJPY:
The Bank of Japan's (BoJ) soft tone signaling that the next rate hike will not happen soon, as well as a positive tone on risks proved to be key factors undermining the safe-haven Yen. The selling inclination persisted in the Asian session on Monday following the release of softer domestic data showing that real wages in Japan fell in February for the 23rd consecutive month.
The overall positive tone in equity markets is reducing demand for the safe-haven Yen. This, as well as the emergence of some US Dollar (USD) buying, backed by Friday's positive monthly US employment data, is pushing the USDJPY pair to new highs. A strong Non-Farm Payrolls (NFP) report suggested that the Federal Reserve (Fed) may postpone interest rate cuts and caused investors to revise their expectations of three rate cuts in 2024. This supports rising US Treasury bond yields and serves as a tailwind for the dollar.
Bulls on the Japanese Yen, meanwhile, can't get a break from recent entreaties from Japanese authorities showing a willingness to intervene in the markets to support the national currency. This suggests that the USD/JPY pair may rise amid expectations that the gap between US and Japanese interest rates will remain wide.
Trading recommendation: Trade 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!
en 
id 
ar 
ru 
es 
pt 
th 
kz 
ua 
tj 
uz 
az 
ms 