The Japanese yen (JPY) appeals to its status as a safe haven and appreciates against the Greenback (USD) in the mid-North American session as tensions
USD/JPY drops 0.36% amidst escalating Israel-Palestine conflict, bolstering the Yen’s safe-haven status. Dallas Fed President Lorie Logan emphasizes restrictive monetary policy, spotlighting inflation as a primary concern. Upcoming economic data from Japan and the US, including Current Account and inflation figures, to influence the pair’s trajectory. between Israel and Palestine grow. Fighting during the weekend increased after Hamas claimed an attack on Israel during the Yom Kippur festival.
In fact, traders expect the US Federal Reserve’s first rate cut by May 2024, with odds standing at 51.97%. USD/JPY are eyeing the current week's data. On the Japanese front, the economic agenda would feature the Current Account. In the US, the Fed parade continues, along with inflation figures on the producer and consumer side. After that, unemployment claims and consumer sentiment would update the status of the US economy.
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