||

The USD/JPY pair is experiencing a swift ascent, driven by the robustness of the dollar.

The Japanese yen, in tandem with the US dollar, has reached its lowest point in the past ten weeks. The current USD/JPY exchange rate is positioned at 149.40.

Investor expectations regarding the Bank of Japan's imminent interest rate hike have dwindled significantly. Concurrently, projections revolving around the future actions of the US Federal Reserve remain pertinent, with May emerging as the likely decision-making timeframe.

On Friday, Bank of Japan representatives indicated a strong likelihood of maintaining an accommodative monetary policy even after the central bank concludes its negative interest rate phase.

This sentiment echoes earlier statements from officials earlier in the week.

The yen's reaction to these comments appears magnified, propelled by the resilience of the US dollar.

Open Trading Account

The post JPY Hits a Ten-Week Low: Overview for February 09, 2024 appeared first at R Blog - RoboForex.

-----------------------------------------------------

By: Anna Rostova
Title: JPY Hits a Ten-Week Low: Overview for February 09, 2024
Sourced From: blog.roboforex.com/blog/2024/02/09/jpy-hits-a-ten-week-low-overview-for-february-09-2024/
Published Date: Fri, 09 Feb 2024 09:02:50 +0000

Read More