USD/JPY Cautious Below the Recent 24-Year High, as Japan’s Inflation Remains Elevated
Inflation in Japan stayed above the central bank’s target, as today’s data showed, while the pair is soft after Wednesday’s 24-year highs
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Inflation in Japan stayed above the central bank’s target, as today’s data showed, while the pair is soft after Wednesday’s 24-year highs
The common currency is having a profitable week so far, but runs another losing month, contained by familiar key technical levels
The pair is soft, as headline Consumer Price Index (CPI) rose to 9.1% year-over-year in May, in the aftermath of last week’s fifth straight rate hike by the BoE in order fight it
The BoJ is defending the 25bp level on its JGBs. However, it is questionable if the central bank can maintain this, given the current global economy.
The common currency jumped as the ECB reportedly called an unscheduled meeting, while markets brace for the Fed’s policy decision, amidst pressure for 75 basis points rate increase
GBPUSD declines as Fed and BoE policy aggressiveness diverges.
The pair extended this month’s advance to the highest level since October 1998 on Monday, but has been consolidating over the last few days, while markets await policy updates from the Fed and the BoJ this week
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The Fed's normalisation of its balance sheet will affect both yields and the dollar. So market participants should not ignore it.
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