USD/JPY trades lower around 149.70 during the European session on Friday, snapping a three-day winning streak that began on Tuesday. Despite reaching
USD/JPY snaps the recent winning streak ahead of US data. A slew of solid US data could underpinthe US Dollar. S&P Global anticipates that Japan could see upward interest rates trajectory, beginning in 2024. weekly highs, the USD/JPY pair has experienced a pullback, attributed to the retreat in the US Dollar . The US Dollar Index trades lower around 106.30 by the press time, retreating from the weekly highs.
This index serves as a crucial gauge of consumer confidence, providing insights into the broader economic sentiment. The ongoing analysis of these indicators is likely to influence trading decisions in the USD/JPY pair. The Japanese Yen experienced weakness due to the Bank of Japan's continuous adherence to an ultra-easy monetary policy. BoJ board member Asahi Noguchi has drawn attention on Thursday by expressing a lack of optimism about the acceleration in wage growth.
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