The USD/JPY pair trades on a stronger note around 158.30 on Tuesday during the early Asian trading hours.
USD/JPY edges higher to 158.30 in Tuesday’s early Asian session. Fed officials acknowledged significant progress on inflation. The pair’s upside might be limited amid the fear of FX intervention by Japanese authorities. The uptick of the pair is bolstered by the modest rebound in US Dollar . Investors will take more cues from the US June Retail Sales and the speech from the Federal Reserve’s Adriana Kugler.
Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors. How do the decisions of the Bank of Japan impact the Japanese Yen? One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen.
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