As expectations for an earlier rate cut by the FRB rise, the USD/JPY pair shows a small retreat.
【8/6Market Overview
During Tokyo time, USD/JPY147hovered around mid-150s. The market was weighed by comments from Liberal Democratic Party member Taro Kono that “rate hikes are necessary to prevent yen depreciation,” and there were also observations of dollar selling by domestic exporters. In European hours, USD/JPY briefly reached147.88yen, a previous high147.83yen before stalling afterward.NYtime, with expectations of early rate cuts by the Fed weighing on sentiment, broad dollar selling dominated, sending USD/JPY down to146.97yen.
【8/7Market View
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