USD/JPY TUMBLES AS BOJ RATE HIKE RUMORS, OVERSHADOWS STRONG US DATA
- USD/JPY ends Tuesday down, trading at 152.84, amid BoJ rate hike rumors.
- Strong US JOLTS data and higher-than-expected Consumer Confidence failed to boost USD/JPY.
- BoJ reportedly considering a rate hike to 0.25% and reducing JGB purchases, adding market uncertainty.
The USD/JPY finished Tuesday’s session with losses amid rumors that the Bank of Japan (BoJ) will hike rates on Wednesday’s monetary policy decision. This headline overshadowed a strong US jobs report in the United States (US), reinforcing a tight labor market. As Wednesday’s Asian session begins, the major trades at 152.84, virtually unchanged.
BoJ rate hike speculation eclipses robust US economic indicators.
Wall Street ended Tuesday’s session mixed after US JOLTS data was better than expected. June figures came at 8.184 million, less than the upwardly revised May number of 8.23 million but exceeding forecasts of 8 million. Further data showed that July’s Consumer Confidence revealed by the Conference Board (CB) exceeded estimates of 99.7, coming to 100.3 above the downwardly revised June figures of 97.8.
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