USD/JPY EDGES DOWN FROM MULTI-DECADE HIGH NEAR 161.00 ON JAPAN’S INTERVENTION BUZZ

avatar
· Views 81



  • USD/JPY corrects modestly from multi-decade highs as fears of Japan’s intervention deepen.
  • The BoE will likely reduce the amount of bond-buying in upcoming policy meetings.
  • US Durable Goods Orders unexpectedly grew by 0.1% in May.

The USD/JPY pair delivers a slight corrective move in Thursday’s New York session after posting a fresh multi-decade high at 160.87. The pair falls slightly as fears of Japan’s intervention have intensified to cushion the weak Japanese Yen.

Sheer weakness in the Yen is resulting in higher exports and a sharp increase in import costs, which is boosting inflationary pressures. The Japanese administration has been reiterating that they are ready to intervene against excessive FX moves. The 160.00 resistance appears to be a crucial price level at which the administration could purchase Yen. Also, the administration was expected to have intervened near these levels two months ago.

On the monetary policy front, investors expect that the Bank of Japan (BoJ) could deliver an early rate hike move due to stubborn inflation expectations. The BoJ is also expected to cut down the scale of its bond-buying operations in the upcoming policy meeting.


免責事項:本記事で述べられている見解は著者の見解のみであり、Followmeの公式見解を反映するものではありません。Followmeは、提供された情報の正確性、完全性、信頼性について一切責任を負いません。また、書面で明示的に記載されている場合を除き、本記事の内容に基づいて行われたいかなる行動についても責任を負いません。

この記事が気に入ったら、著者にチップを送って感謝の気持ちを表しましょう。
応答 0

古いコメントはありません。ソファをつかむ最初のものになりましょう。

  • tradingContest