USD/JPY is trading sideways, the PMI of the United States is still high.

Create at 6 months ago (Oct 12, 2023 16:17)

Investors continue to monitor whether the United States Federal Reserve (Fed) will raise interest rates again. Christopher Waller and Michelle Bowman, who are among the Fed's policy makers, support a rate hike, citing that current inflation rates are still above the Fed's 2% target.


The United States Producer Price Index (PPI) has increased from 2.0% to 2.2%, exceeding the expected 1.6%. Additionally, the Consumer Price Index (CPI) will be announced on Thursday, and forecasts indicate that CPI may decrease from 3.7% to 3.6%.


The Bank of Japan (BoJ) continues its accommodative monetary policy. Asahi Noguchi, one of Japan's policy makers, suggests that raising wages at this time may not be advisable, as inflation rates could rise due to import costs and the weakening of the yen.


Other policy makers believe that an immediate adjustment to the Yield Curve Control (YCC) policy is not necessary and emphasize bringing real wages into positive territory again, although it cannot be specified when this might happen.

 

Source: Fxstreet
 
USD/JPY news today

Overview
Today last price 149
Today Daily Change -0.16
Today Daily Change % -0.11
Today daily open 149.16
 
Trends
Daily SMA20 148.68
Daily SMA50 146.87
Daily SMA100 144.04
Daily SMA200 138.7
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