USD/JPY TO RETEST THE 141.70 LOW – DBS
USD/JPY plunged 2.2% to 144.37 last week. Bank of Japan Governor Kazuo Ueda stood by the decision to keep hiking rates, DBS Senior FX Strategist Philip Wee notes.
Ueda stands by the decision to keep hiking rates
“USD/JPY plunged 2.2% to 144.37 last week, opening the door to retesting the 141.70 low in early August.”
“At the special parliamentary hearing on August 23, Bank of Japan Governor Kazuo Ueda stood by the decision to keep hiking rates if the central bank’s median economic forecasts were met or exceeded.”
“Ueda attributed the brief market volatility from July 11 to August 5 to rising fears of a US recession from the Fed’s rate cut bias on rising joblessness, not the BOJ’s rate hike.”
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.