<\/p>\n
The USD\/JPY pair scales higher for the third straight day \u2013 also marking the fourth day of a positive move in the previous five \u2013 and climbs to over a one-week high, around the 157.25 area during the Asian session on Tuesday. Spot prices, however, remain below the 157.65-157.70 supply zone as traders seem reluctant ahead of this week’s key US macro data and central bank event risks.\u00a0<\/p>\n
The US consumer inflation figures are due for release on Wednesday, which will be followed by the highly-anticipated FOMC monetary policy decision. Investors will look for cues about the likely timing when the Federal Reserve (Fed) will begin cutting interest rates<\/a>. This, in turn, will play a key role in influencing the near-term US Dollar<\/a> (USD) price dynamics and provide some meaningful impetus to the USD\/JPY pair ahead of the Bank of Japan (BoJ) decision on Friday.<\/p>\n Market participants remain uncertain if the Japanese central bank will announce a reduction in the monthly government bond purchases amid a weaker economy. In fact, the Cabinet Office reported on Monday that contracted by 0.5% during the first quarter and by the 1.8% YoY rate. This, along with a stable performance around the equity markets, is seen undermining the Japanese Yen (JPY) and turning out to be a key factor acting as a tailwind for the USD\/JPY pair.\u00a0<\/p>\n The USD, on the other hand, stands tall near its highest level since May 14 touched on Monday and continues to draw support from growing acceptance that the Federal Reserve<\/a> (Fed) might keep interest rates higher for longer. The expectations were fueled by the stronger-than-expected US jobs data released on Friday. This, in turn, favors the USD bulls and supports prospects for an extension of the USD\/JPY<\/a> pair’s recent rise from the 50-day Simple Moving Average (SMA).<\/p>\n \u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" USD\/JPY attracts buyers for the third straight day and draws support from a combination of factors. The BoJ policy uncertainty and a weak domestic economy continue to undermine the Japanese Yen. Reduced Fed rate cut bets lend support to the USD and contribute to the pair\u2019s steady positive move.\u00a0 The USD\/JPY pair scales higher for […]<\/p>\n","protected":false},"author":2,"featured_media":12571,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,367,248,251,246,257,276,3765,366,255,250,252,247,253,249,275,256,254],"class_list":["post-320875","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-currencies","tag-economichealth","tag-fed","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-usdjpy","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/320875","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=320875"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/320875\/revisions"}],"predecessor-version":[{"id":320876,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/320875\/revisions\/320876"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/12571"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=320875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=320875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=320875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}