USD/JPY holder over 148.00-merket, investorer avventer BoJ rentebeslutning

USD/JPY holder over 148.00-merket, investorer avventer BoJ rentebeslutning

Tidsstempel: 22. januar 2024 6:46
Kilde node: 3078504

Del:

  • USD/JPY svinger rundt 148.08 på konsolideringen av greenbacken.
  • Traders satser lavere for rentekutt fra Federal Reserve (Fed) i 2024.
  • Bank of Japan (BoJ) forventes å opprettholde YCC og rentene uendret.

USD/JPY-paret handles i negativt territorium for tredje dag på rad under den tidlige asiatiske sesjonen på tirsdag. Konsolideringen av Greenback- og US-rentene tynger USD/JPY i forkant av nøkkelhendelsen. Markedsaktører vil følge nøye med på Bank of Japans (BoJ) pengepolitiske møte på tirsdag. Paret handles for tiden rundt 148.08, opp 0.03% på dagen.

Traders place lower bets for rate cuts from the Federal Reserve (Fed) in 2024. They stand at 142 basis points (bps) of cuts from 175 bps last week. The markets are pricing in 42% odds that the Fed could lower priser in March, a slide from 70% just a week ago, according to the CME’s Fed watch tool. This, in turn, lends some support to the Amerikanske dollar (USD) and acts as a tailwind for USD/JPY.

On the Japanese Yen front, the Bank of Japan is likely to maintain the YCC and interest rates unchanged at its January meeting on Tuesday. Traders will take more cues from the press conference. BoJ’s Governor Kazuo Ueda might offer some hints about when and how the ‘normalization’ process and eventual shift away from negative interest rates will unfold this year. Last week, Japan’s Core Consumer Price Index (CPI) rose 2.3% in December 2023 from 2.5% in November. The report further undermined the odds of a shift in the current monetary policy.

The BoJ interest rate decision and the press conference will be in the spotlight on Tuesday. This event is likely to trigger volatility in the market. Later this week, attention to shift to the US Gross Domestic Product (GDP) for Q4, due on Thursday, and the Core Personal Consumption Expenditures Price Index (Core PCE) on Friday. These data and events could keep a clear direction for the USD / JPY par.

Tidstempel:

Mer fra FXStreet