The USD/JPY pair advances to historic highs of 155.00 in Wednesday’s London session.
USD/JPY moves higher to 155.00 as US Dollar bounces back. Investors await the US Data to get cues about when the Fed will pivot to interest rate cuts. The BoJ is projected to raise interest rates only one more time by year-end. The asset strengthens as the US Dollar finds support amid uncertainty ahead of the United States Q1 Gross Domestic Product and the core Personal Consumption Expenditure Price Index data for March, which will be published on Thursday and Friday.
Strong Durable Goods Orders indicate a stubborn inflation outlook. Meanwhile, the Japanese Yen weakens as investors expect that the Bank of Japan will not continue raising interest rates this week. Last time, the BoJ pushed interest rates to 0%-0.1% after maintaining a super easy monetary policy for 17 years. A Reuters poll showed that the BoJ will tighten policy further once this year and is expected to keep it stable till the June meeting.
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