USDJPY: The Japanese Yen decreased because the market predicted
Updated
The Japanese yen is the worst among Asian currencies through 2024, extending its decline from the previous year as traders grow more confident that the Bank of Japan will delay policy changes were extremely moderate.
Reconstruction and stimulus measures following the devastating earthquake in central Japan are expected to offset any notion of BOJ policy tightening, at least in the near term.
Such a scenario points to increased pressure on the yen, especially from the wide gap between domestic and international lending rates. Japan's interest rates have remained extremely low for nearly eight years.
Weak data on inflation and weak wage growth also suggested less pressure on the BOJ to change its ultra-dovish course.
Broader Asian currencies were trending lower, as doubts about an early Fed rate cut kept traders largely biased against the dollar.
Comment
USDJPY SELL 145.60TP1: 145.30
TP2: 145.00
SL: 146.00
Comment
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