Waller, a member of the FRB, tempered expectations for a U.S. rate cut, sending USD/JPY up to the 147 yen level.
【1/16Market Overview
In Tokyo time, the USD/JPY fell to145.58yen, but later, as US Treasuries rose in afterhours,10yields moved up to146.27yen. In European time, USD/JPY rose to the mid-146s as US10yields climbed and Nikkei futures in the night session were firm.NYtime,1month USNYFed Manufacturing Index fell short of expectations, and USD/JPY briefly dropped to146.29yen. Afterward,WallerFRBGovernor stated that “if inflation does not reaccelerate, a rate cut could be possible this year” and “rate cuts should proceed at an orderly and careful pace,” with no longer any urgent reason to cut quickly”10years yield rose and USD/JPY moved to147.31yen.
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