Lack of confidence in the yen | 08 Februari 2024

08 Februari 2024, USD/JPY

Lack of confidence in the yen

Event to watch out for today:

15:30 EET. USD - Number of initial applications for unemployment benefits / FOMC member Thomas Barkin to give a speech

USDJPY:

USD to JPY is near 148.70 as the economic calendar leaves markets dependent on rate cut expectations and speeches from central bank policymakers. The Japanese yen saw a broad market pullback mid-week, but improving risk sentiment also kept the US dollar low, resulting in USD/JPY experiencing price fluctuations.

Several Fed officials spoke on Wednesday, noting that while inflation progress continues, there are still risks on several fronts, with FRB Boston President Susan Collins highlighting the risk that inflation progress could easily stall. Fed officials speaking on Wednesday generally stuck to the Fed's projections of two or three rate cuts in 2024, while the market continues to hope for six rate cuts, starting perhaps in May.

The unstable macroeconomic backdrop of the Yen forms a short-term trend for dollar bulls, despite the recent Fed speeches.

Trade recommendation: Trading predominantly buy orders

FreshForex provides an opportunity to increase trading volumes with an impressive 300% bonus on every deposit of $100 or more!

David Johnson
Analyst of «FreshForex» company
Setuju dengan review?
opini pedagang:
Close
Masuk
Browser Anda tidak mendukung kue. Jika cookie dinonaktifkan di browser Internet Anda, Anda mungkin memiliki masalah dengan render daerah Pribadi. Cara mengaktifkan dukungan cookie.
manager photo manager photo
Online-support
Dengan senang hati, kami akan menjawab pertanyaan Anda

Tulis

Get bonus