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USDJPY remains steady, though at narrower range on Wednesday, awaiting the FOMC verdict later today. Tuesday’s dip from new three-week high, which interrupted a six-day rally, is likely to be short-lived, as the dollar remains well supported and yen under pressure on wide gap between Fed and BoJ monetary policies. Fed is expected to deliver […]

The post USD/JPY Outlook: Dollar Remains Well Supported by Wide Gap Between Fed and BoJ Monetary Policies appeared first on Action Forex.

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26/01/2024

USD/JPY Steady after Tokyo Core CPI Falls Below 2%

The Japanese yen is drifting on Friday. In the European session, USD/JPY is trading at 147.80, up 0.10%. Tokyo Core CPI falls to 1.6% Tokyo Core CPI reached a significant milestone today, falling to 1.6% y/y in January, after a December reading of 2.1%. This was the first time the indicator dropped below the Bank […]
01/10/2024

Fed Powell Implicitly Defends the Base Case in September Dot Plot

Markets Fed Chair Powell implicitly defended the base case as set out in the updated September dot plot. This year’s median suggested an additional 50 bps of cumulative Fed rate cuts, being 25 bps in November and 25 bps in December with the Fed taking its time after the bumper liftoff. Powell indicated that the […]
10/09/2024

UK Job Market Stronger Than Expected But Weaker Than US

In the UK, jobless claims rose by 23.7K in August, much better than the 95.5K expected and the 102.3K rise in the previous month. This is relatively positive data as it suggests that the rate of deterioration in the UK labour market is slowing. However, this is still the fastest claims growth since the unemployment […]