USD/JPY weakens, investors await further U.S. economic data releases.

Create at 2 months ago (Sep 02, 2024 20:23)

Rising inflation in Tokyo has prompted the Bank of Japan (BoJ) to take a more hawkish stance on monetary policy, which could lead to a strengthening of the yen in the long term.

 

Meanwhile, the release of the U.S. Personal Consumption Expenditures (PCE) Index data has led analysts to lower their expectations for a rate cut by the Federal Reserve (Fed) in September.

 

According to the FedWatch tool, the market is predicting that the Fed will cut interest rates by at least 25 basis points (bps) in the September meeting. This has caused investors to pay special attention to U.S. employment figures, particularly non-farm payrolls (NFP), to forecast future rate cut trends.

 

Source: Fxstreet

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