USD/JPY swirls 60 pip high towards 141.00 as BoJ status quo, Governor Ueda’s speech eyed – by anilpanchal7 USDJPY BOJ Fed RiskAversion YieldCurve
ay. Adding strength to the Yen pair’s upside momentum could be the US Dollar’s consolidation of the previous day’s heavy losses and a corrective bounce in the yields.
BoJ keeps the short-term interest rate target at -0.1% while directing 10-year Japanese Government Bond yields with the band of +/-0.50%, per the latest monetary policy meeting update. The Japanese central bank also tames inflation fears by saying that the picks up bids to pare the biggest daily loss in three months around 102.30.
That said, the latest US dollar rebound could be linked to the mildly bid Treasury bond yields and cautious mood ahead of the second-tier data, as well as nearly 70% market bets on the JulyHaving witnessed the initial reaction to the BoJ, the Yen pair will pay attention to Governor Kazuo Ueda’s press conference, around 06:00 AM GMT, for fresh impulse.
Following that, the preliminary readings of the Michigan Consumer Sentiment Index for June and five-year inflation expectations will be crucial for clear directions, especially amid the recently easing hawkish Fed bets.
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