17 Mei 2024, USD/JPY
USDJPY:
The Dollar-Yen pair rose to 155.90 during the Asian session on Friday as the Japanese Yen (JPY) faced fresh pressure. This was due to the Bank of Japan (BoJ) maintaining its bond purchases from the previous operation, abandoning an unexpected cut in debt purchases earlier this week.
Traders speculate that the BoJ may cut bond purchases at its June meeting. BOJ Governor Kazuo Ueda also said there are no plans to sell the central bank's ETF funds.
In an interview with Bloomberg, former BoJ chief economist Toshitaka Sekine suggested the BOJ could raise the benchmark interest rate three more times this year. Sekine noted that the next move could come as early as June, given the significant scope for adjustments to the current "excessively" accommodative settings.
According to Reuters, Atlanta Fed President Raphael Bostic said at an event in Jacksonville on Thursday that interest rates should be patient, noting that significant price pressures remain in the U.S. economy. In addition, FRB Cleveland President Loretta Mester noted that it may take longer than expected to confidently determine the trajectory of inflation and suggested that the Fed should maintain a restrictive stance for an extended period.
Trading Recommendation: On consolidation above 155.80 we consider buying, on rebound we take Sell positions.
Connect 101% under drawdown and trade with double deposit! Bonus funds will help you increase your profits or withstand a sudden drawdown!
en 
ar 
ru 
vn 
es 
pt 
th 
kz 
ua 
tj 
uz 
az 
ms 