The USD/JPY pair aims for stability above the psychological figure of 150.00 as a decline in the risk appetite of the market participants has dampened the appeal for risk-sensitive currencies.
USD/JPY aims for stability above 150.00 amid the cheerful market mood starts fading. Fed Cook said that current interest rates are adequate to bring down inflation to 2%. Japan’s authority is closely watching FX's moves for a stealth intervention. The asset sharply rebounded from 149.40 on expectations that resilience in the United States economy could make the need for more interest rate hikes from the Federal Reserve appropriate.
The recovery in the US Dollar and bond markets could falter as investors hope that the Fed is done with hiking interest rates. As per the CME Fedwatch tool, traders see an 85% chance for interest rates remaining unchanged in the range of 5.25-5.50% till the year-end. On the Japanese Yen, Japan’s authority is closely watching FX moves for intervention.
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