USD/JPY eyes 141.00 as upbeat US households’ spending supports hawkish Fed stance – by Sagar_Dua24 USDJPY BOJ Fed Employment YieldCurve
USD/JPY is looking to capture the critical resistance of 141.00 as the Fed could raise rates ahead.
Investors are keeping the focus on further development about tweaking Yield Curve Control by the BoJ.pair is looking to capture the critical resistance of 141.00 in the early Tokyo session. The asset is expected to extend its rally towards 141.00 as the street is anticipating that robust consumption expenditure by United States' households would force the Federal Reserve to stick to its policy-tightening spree in order to keep pressure on inflation.
However, fears of more interest rate announcements have soared as the United States economy is showing resilience despite higher pressure on pockets due to higher. April’s US core Personal Consumption Expenditure expanded by 0.4% vs. an estimate of 0.3%. Higher expenditure by US individuals is expected to fuel inflationary pressures. Apart from them, US Durable Goods Orders expanded by 1.1% while the street was expecting a contraction by 1.0%.
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