{"id":255580,"date":"2024-02-28T10:53:10","date_gmt":"2024-02-28T05:23:10","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=255580"},"modified":"2024-02-28T10:53:10","modified_gmt":"2024-02-28T05:23:10","slug":"japanese-yen-drifts-lower-against-usd-amid-divergent-boj-fed-policy-expectations-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/japanese-yen-drifts-lower-against-usd-amid-divergent-boj-fed-policy-expectations-crypto-news\/","title":{"rendered":"Japanese Yen drifts lower against USD amid divergent BoJ-Fed policy expectations &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>\n                        <span class=\"fxs_socialmedia_bar_share_label\">Share:<\/span><\/p>\n<ul>\n<li><strong>The Japanese Yen struggles to capitalize on Tuesday&#8217;s slightly warmer CPI-inspired gains.<\/strong><\/li>\n<li><strong>Hawkish Fed expectations help revive the USD demand and also lend support to USD\/JPY.<\/strong><\/li>\n<li><strong>Traders look forward to the Prelim US Q4 GDP ahead of the PCE Price Index on Thursday.<\/strong><\/li>\n<\/ul>\n<p>The Japanese Yen (JPY) registered modest gains against its American counterpart on Tuesday and was underpinned by slightly stronger-than-expected domestic consumer inflation figures. In fact, Japan\u2019s core CPI exceeded forecasts and revived bets that the Bank of Japan (BoJ) might end negative interest rates soon, which, in turn, provided a goodish lift to the JPY. The uptick, however, lacked bullish conviction amid expectations that a recession in Japan might force the BoJ to delay its plans to tighten the monetary policy.\u00a0<\/p>\n<p>Apart from this, the emergence of some US Dollar (USD) buying assists the USD\/JPY pair to gain some positive traction during the Asian session on Wednesday and build on the overnight bounce from the 150.00 psychological mark. Firming expectations that the Federal Reserve (Fed) will keep interest rates higher for longer turns out to be a key factor lending support to the USD. That said, the looming US government shutdown and a fresh leg down in the US Treasury bond yields might cap any further gains for the Greenback.\u00a0<\/p>\n<p>Traders might also prefer to wait for the release of the US Personal Consumption Expenditures (PCE) Price Index on Thursday. The crucial US inflation data might provide fresh cues about the Fed&#8217;s rate cut path, which will play a key role in driving the USD demand and help determine the near-term trajectory for the USD\/JPY pair. In the meantime, traders on Tuesday will take cues from the Prelim US Q4 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\" data-fxs-autoanchor=\"\">GDP<\/a> print and speeches by influential FOMC members to grab short-term opportunities later during the North American session.\u00a0<\/p>\n<h2 class=\"fxs_headline_medium\">Daily digest market movers: Japanese Yen reverses Tuesday&#8217;s Japanese CPI-led positive move<\/h2>\n<ul>\n<li>The Japanese Yen struggles to capitalize on Tuesday&#8217;s slightly warmer domestic consumer inflation-inspired gains amid the uncertainty over the Bank of Japan&#8217;s policy outlook.<\/li>\n<li>The latest CPI prints suggested that inflation is sticky even in Japan, fuelling speculations that the BoJ will eventually pivot away from its ultra-accommodative monetary policy settings.<\/li>\n<li>Japan&#8217;s economy unexpectedly slipped into recession during the fourth quarter and might force the central bank to delay its plan to end negative interest rates in the coming months.<\/li>\n<li>US President Joe Biden emphasized the necessity of finding a solution to prevent a detrimental government shutdown on March 1 as a legislative logjam showed no signs of abating.<\/li>\n<li>The US Census Bureau reported on Tuesday that Durable Goods Orders declined by 6.1% in January, the most in nearly four years and worse than a contraction of 4.5% anticipated.<\/li>\n<li>The Conference Board&#8217;s Consumer Sentiment Index fell to 106.7 in February despite a decline in inflation expectations for the next 12 months to the lowest level in almost four years.<\/li>\n<li>The Federal Reserve Bank of Richmond&#8217;s manufacturing index registered the fourth straight month of a negative reading, though improved to -5 in February from the -15 previous.<\/li>\n<li>Apart from this, a modest downtick in the US Treasury bond yields keeps the US Dollar bulls on the defensive and is seen acting as a headwind for the USD\/JPY pair on Wednesday.<\/li>\n<li>Traders now look to the release of the Prelim US Q4 GDP print, which, along with speeches by influential FOMC members, will drive the USD demand and provide a fresh impetus.<\/li>\n<li>The focus, however, will remain glued to the US Personal Consumption Expenditures (PCE) Price Index on Thursday, which could offer fresh cues about the Fed&#8217;s rate-cut path.<\/li>\n<\/ul>\n<h2 class=\"fxs_headline_medium\">Technical analysis: USD\/JPY needs to surpass multi-month peak, near 150.90 for bulls to seize control<\/h2>\n<p>From a technical perspective, the overnight swing low, around the 150.00 mark, might continue to act as immediate support ahead of the 149.70-149.65 region. A convincing break below the latter could drag the USD\/JPY pair to the 149.35-149.30 area en route to the 149.00 mark and the 148.80-148.70 strong horizontal resistance breakpoint. Some follow-through selling will negate any near-term positive bias and pave the way for a further depreciating move.<\/p>\n<p>On the flip side, bulls need to wait for a sustained strength beyond the multi-month top, around the 150.85-150.90 zone, before placing fresh bets. Given that oscillators on the daily chart are holding comfortably in the positive territory, the <a rel=\"nofollow noopener\" target=\"_blank\" data-fxs-autoanchor=\"\" href=\"https:\/\/www.fxstreet.com\/currencies\/usdjpy\">USD\/JPY<\/a> pair might then climb to the 151.45 intermediate hurdle before eventually climbing towards the 152.00 neighbourhood, or a multi-decade peak set in October 2022 and tested in November 2023.<\/p>\n<p><!--CURRENCIES MODULE STARTS HERE--><\/p>\n<div data-cnt-module-topic=\"japanese-yen\" data-cnt-module-type=\"currencyprices\" id=\"content-module-currencyprices-japanese-yen\">\n<h2>Japanese Yen price today<\/h2>\n<p>The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the weakest against the US Dollar.<\/p>\n<table border=\"1\" style=\"width: 100%;text-align: center;border-collapse: collapse;font-size: 1.8svh\">\n<tbody>\n<tr>\n<td style=\"background-color: #F2F2F2\">\u00a0<\/td>\n<td style=\"background-color: #F2F2F2\"><strong>USD<\/strong><\/td>\n<td style=\"background-color: #F2F2F2\"><strong>EUR<\/strong><\/td>\n<td style=\"background-color: #F2F2F2\"><strong>GBP<\/strong><\/td>\n<td style=\"background-color: #F2F2F2\"><strong>CAD<\/strong><\/td>\n<td style=\"background-color: #F2F2F2\"><strong>AUD<\/strong><\/td>\n<td style=\"background-color: #F2F2F2\"><strong>JPY<\/strong><\/td>\n<td style=\"background-color: #F2F2F2\"><strong>NZD<\/strong><\/td>\n<td style=\"background-color: #F2F2F2\"><strong>CHF<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"background-color: #F2F2F2\"><strong>USD<\/strong><\/td>\n<td>\u00a0<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.05%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.07%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.05%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.19%<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.07%<\/td>\n<td style=\"background-color:#39AD9A;color: #fff\">0.95%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.05%<\/td>\n<\/tr>\n<tr>\n<td style=\"background-color: #F2F2F2\"><strong>EUR<\/strong><\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.04%<\/td>\n<td>\u00a0<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.03%<\/td>\n<td style=\"background-color:#888A93;color: #fff\">0.00%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.17%<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.11%<\/td>\n<td style=\"background-color:#39AD9A;color: #fff\">0.91%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.01%<\/td>\n<\/tr>\n<tr>\n<td style=\"background-color: #F2F2F2\"><strong>GBP<\/strong><\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.06%<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.02%<\/td>\n<td>\u00a0<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.01%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.15%<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.13%<\/td>\n<td style=\"background-color:#39AD9A;color: #fff\">0.89%<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.01%<\/td>\n<\/tr>\n<tr>\n<td style=\"background-color: #F2F2F2\"><strong>CAD<\/strong><\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.04%<\/td>\n<td style=\"background-color:#888A93;color: #fff\">0.00%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.03%<\/td>\n<td>\u00a0<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.17%<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.11%<\/td>\n<td style=\"background-color:#39AD9A;color: #fff\">0.87%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.04%<\/td>\n<\/tr>\n<tr>\n<td style=\"background-color: #F2F2F2\"><strong>AUD<\/strong><\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.21%<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.15%<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.13%<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.16%<\/td>\n<td>\u00a0<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.27%<\/td>\n<td style=\"background-color:#39AD9A;color: #fff\">0.72%<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.15%<\/td>\n<\/tr>\n<tr>\n<td style=\"background-color: #F2F2F2\"><strong>JPY<\/strong><\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.06%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.10%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.13%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.11%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.28%<\/td>\n<td>\u00a0<\/td>\n<td style=\"background-color:#39AD9A;color: #fff\">1.01%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.12%<\/td>\n<\/tr>\n<tr>\n<td style=\"background-color: #F2F2F2\"><strong>NZD<\/strong><\/td>\n<td style=\"background-color:#F55E6A;color: #fff\">-0.92%<\/td>\n<td style=\"background-color:#F55E6A;color: #fff\">-0.88%<\/td>\n<td style=\"background-color:#F55E6A;color: #fff\">-0.85%<\/td>\n<td style=\"background-color:#F55E6A;color: #fff\">-0.88%<\/td>\n<td style=\"background-color:#F55E6A;color: #fff\">-0.71%<\/td>\n<td style=\"background-color:#F55E6A;color: #fff\">-0.99%<\/td>\n<td>\u00a0<\/td>\n<td style=\"background-color:#F55E6A;color: #fff\">-0.87%<\/td>\n<\/tr>\n<tr>\n<td style=\"background-color: #F2F2F2\"><strong>CHF<\/strong><\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.05%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.01%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.02%<\/td>\n<td style=\"background-color:#888A93;color: #fff\">0.00%<\/td>\n<td style=\"background-color:#9CD6CD;color: #fff\">0.13%<\/td>\n<td style=\"background-color:#FAAFB5;color: #fff\">-0.11%<\/td>\n<td style=\"background-color:#39AD9A;color: #fff\">0.90%<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"font-size: 11px\">The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)\/JPY (quote).<\/p>\n<\/div>\n<p><!--FAQ CONTENT MODULE STARTS HERE--><\/p>\n<div data-cnt-module-topic=\"fed\" data-cnt-module-type=\"faq\" id=\"content-module-faq-fed\">\n<div class=\"fxs-content-module-wrapper\">\n<h2 class=\"fxs-content-module-title\">Fed FAQs<\/h2>\n<section class=\"fxs-content-module-section\">\n<p class=\"fxs-content-module-content\">Monetary policy in the US is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability and foster full employment. Its primary tool to achieve these goals is by adjusting interest rates.<br \/>When prices are rising too quickly and inflation is above the Fed\u2019s 2% target, it raises interest rates, increasing borrowing costs throughout the economy. This results in a stronger US Dollar (USD) as it makes the US a more attractive place for international investors to park their money.<br \/>When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates to encourage borrowing, which weighs on the Greenback.<\/p>\n<\/section>\n<section class=\"fxs-content-module-section\">\n<p class=\"fxs-content-module-content\">The Federal Reserve (Fed) holds eight policy meetings a year, where the Federal Open Market Committee (FOMC) assesses economic conditions and makes monetary policy decisions.<br \/>The FOMC is attended by twelve Fed officials \u2013 the seven members of the Board of Governors, the president of the Federal Reserve Bank of New York, and four of the remaining eleven regional Reserve Bank presidents, who serve one-year terms on a rotating basis.<\/p>\n<\/section>\n<section class=\"fxs-content-module-section\">\n<p class=\"fxs-content-module-content\">In extreme situations, the Federal Reserve may resort to a policy named Quantitative Easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system.<br \/>It is a non-standard policy measure used during crises or when inflation is extremely low. It was the Fed\u2019s weapon of choice during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy high grade bonds from financial institutions. QE usually weakens the US Dollar.<\/p>\n<\/section>\n<section class=\"fxs-content-module-section\">\n<p class=\"fxs-content-module-content\">Quantitative tightening (QT) is the reverse process of QE, whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing, to purchase new bonds. It is usually positive for the value of the US Dollar.<\/p>\n<\/section>\n<\/div>\n<p><!--FAQ CONTENT MODULE ENDS HERE--><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: The Japanese Yen struggles to capitalize on Tuesday&#8217;s slightly warmer CPI-inspired gains. Hawkish Fed expectations help revive the USD demand and also lend support to USD\/JPY. Traders look forward to the Prelim US Q4 GDP ahead of the PCE Price Index on Thursday. The Japanese Yen (JPY) registered modest gains against its American counterpart [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":5294,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,367,248,251,246,257,366,255,388,250,252,247,253,249,5212,275,256,254],"class_list":["post-255580","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-boj","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-fed","tag-gta","tag-inflation","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-seo","tag-usdjpy","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/255580","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=255580"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/255580\/revisions"}],"predecessor-version":[{"id":255582,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/255580\/revisions\/255582"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/5294"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=255580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=255580"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=255580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}