USD/JPY is trading near 150.00, extending the rally after the Bank of Japan (BoJ) did not adjust its policy setting but changed the language around its YCC framework. The BoJ's policy outcome disappointed hawks and weighed on the Japanese Yen.
According to the CME Fedwatch tool, markets are currently pricing in a 23% chance of a 25 basis point (bps) Fed hike on Wednesday. Hawkish comments from Fed officials could limit the downside of the Greenback and act as a favorable driving force for the USD/JPY pair, helping the currency rally!
According to the CME Fedwatch tool, markets are currently pricing in a 23% chance of a 25 basis point (bps) Fed hike on Wednesday. Hawkish comments from Fed officials could limit the downside of the Greenback and act as a favorable driving force for the USD/JPY pair, helping the currency rally!
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