The USD/JPY pair attracts some dip-buying near the 149.35-149.30 area during the Asian session on Monday, albeit lacks follow-through and remains belo
USD/JPY edges higher during the Asian session, albeit lacks follow-through buying. Intervention fears cap the upside for the pair on the back of subdued USD demand. The divergent BoJ-Fed policy outlook continues to act as a tailwind and lend support. w a one-and-half-week high touched on Friday.
The bets were lifted following the release of the US CPI report last week, which showed that inflation remains well above the Fed's 2% target and supported prospects for further policy tightening. This remains supportive of elevated US Treasury bond yields and favours the USD bulls, suggesting that the path of least resistance for the USD/JPY pair is to the upside. Hence, any downtick might still be seen as a buying opportunity.
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