The USD/JPY pair extends its upside above the mid-146.00s during the early European session on Tuesday. The major pair currently trades near 146.72, g
Japanese Household Spending suffered its largest decline in nearly two and a half years.Market players await the US Factory Orders ahead of the US ISM Services PMI, Japanese Gross Domestic Product .extends its upside above the mid-146.00s during the early European session on Tuesday. The major pair currently trades near 146.72, gaining 0.16% on the day.
It is worth mentioning that the Bank of Japan maintains its loose monetary policy while shifting away from yield curve control.Board member Toyoaki Nakamura said last week that policymakers need more time to move to monetary tightening. However, the monetary policy divergence between the US and Japan may limit the USD/JPY pair's downside for the time being.
Following last week's mixed economic data results, market participants place bets on the Federal Reserve taking a less aggressive posture. According to the CME FedWatch Tool, the possibility of keeping interest
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