Wednesday, February 14, 2024
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JPY Hits a Ten-Week Low: Overview for February 09, 2024 – R Weblog



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

The Japanese yen, in tandem with the US greenback, has reached its lowest level previously ten weeks. The present USD/JPY change fee is positioned at 149.40.

Investor expectations relating to the Financial institution of Japan’s imminent rate of interest hike have dwindled considerably. Concurrently, projections revolving across the future actions of the US Federal Reserve stay pertinent, with Could rising because the possible decision-making timeframe.

On Friday, Financial institution of Japan representatives indicated a powerful chance of sustaining an accommodative financial coverage even after the central financial institution concludes its adverse rate of interest section.

This sentiment echoes earlier statements from officers earlier within the week.

The yen’s response to those feedback seems magnified, propelled by the resilience of the US greenback.

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