USD/JPY ignores downbeat Japan PPI, BoJ’s Wakatabe to drop toward 139.00, focus on US inflation, Fed – by anilpanchal7 USDJPY BOJ Fed Inflation RiskAversion
for May dropped for the fifth consecutive month to 5.1% YoY from 5.8% previous readings and 5.5% market forecasts. That said, monthly figures also disappointed Yen traders with -0.7% MoM outcome, versus -0.2% expected and 0.2% prior.
On the other hand, BoJ Deputy Governor Masazumi Wakatabe rules out any change in the BoJ monetary policy during this week’s meeting as he said, “Don't expect a change from BOJ at this week's meeting.” dropped in the last two consecutive weeks, indecisive around 103.56 at the latest, as downbeat prints of the US activity numbers for May joined disappointing employment clues to weigh on the US Dollar.
Amid these plays, US Treasury bond yields struggle to extend the previous week’s upward trajectory while S&P500 Futures manage to trace Wall Street’s gains, which in turn should put a floor under theMoving on, a light calendar on Monday may restrict intraday moves of the USD/JPY pair. However, Tuesday’s US inflation will be the key for the Yen pair traders to watch for clear directions.
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