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2025-02-06 11:59
IndustriaUSD Weakens vs Major Currencies, JPY Rises
The USD is lower against all major currencies, with the biggest move in the USDJPY, which fell by -1.07%. The decline was driven by comments from BOJ Policy Head Kazuhiro Masaki, who highlighted that Japan's underlying inflation is gradually approaching the 2% target, though still below it. He attributed recent price hikes to cost-push factors, mainly higher import costs due to a weak yen, but expects these pressures to ease. Despite moderate rises in service prices, the BOJ plans to keep accommodative policies, though it may raise rates if inflation accelerates.
The USDJPY tested and broke below the 200 and 100-day moving averages at 152.77 and 152.42, but has since rebounded to test the 200-day MA again. This 152.77 level is key going into the next trading day.
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USD Weakens vs Major Currencies, JPY Rises
The USD is lower against all major currencies, with the biggest move in the USDJPY, which fell by -1.07%. The decline was driven by comments from BOJ Policy Head Kazuhiro Masaki, who highlighted that Japan's underlying inflation is gradually approaching the 2% target, though still below it. He attributed recent price hikes to cost-push factors, mainly higher import costs due to a weak yen, but expects these pressures to ease. Despite moderate rises in service prices, the BOJ plans to keep accommodative policies, though it may raise rates if inflation accelerates.
The USDJPY tested and broke below the 200 and 100-day moving averages at 152.77 and 152.42, but has since rebounded to test the 200-day MA again. This 152.77 level is key going into the next trading day.
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#ForexTrick
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