The USD/JPY finds provisional support near 155.00 in Monday’s early American session.
USD/JPY finds cushion near 155.00 after plummeting from 160.00 on probable Japan’s intervention. Investors expect Japan’s intervention would only provide provisional support to the Japanese Yen. The US Dollar finds support on expectations that the Fed will support higher interest rates for a longer period. The USD/JPY findsprovisional support near 155.00 in Monday’s early American session. The asset registered a vertical sell-off from historic highs of 160.
Though the BoJ has moved its interest rates to a positive trajectory, investors remain worried about the limited scope of policy tightening due to uncertainty over the wage-growth spiral. The BoJ is moderately moving toward policy normalization, but firm expectations of prolonged policy divergence between the BoJ and the Federal Reserve are making it difficult for the Japanese Yen to establish a firm footing.
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