USD/JPY slides back closer to 143.00 mark, downside potential seems limited – by hareshmenghani USDJPY RiskAppetite BOJ Fed Currencies
esday. Spot prices currently trade around the 143.15 region, down nearly 0.15% for the day, though any meaningful downside still seems elusive, warranting some caution for bearish traders.
Weaker Chinese trade data released on Tuesday dampened investors' appetite for riskier assets. Adding to this, credit rating agency Moody’s downgraded the debt ratings on a slew of US banks on concerns about pressures on profit and led to the overnight slide in the equity markets. This, in turn, lends some support to the safe-haven Japanese Yen , which, along with subdued US Dollar price action, is seen acting as a headwind for the USD/JPY pair.
In contrast, the continued tightness in the US labour market raised the odds of a soft landing for the US economy and supports prospects for further policy tightening by the Fed. In fact, a slight disappointment from the headline
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