USD/JPY holds below the 141.00 mark ahead of FOMC decision – by lilyfinancial USDJPY BOJ Fed
press conference, which could hint at some clues about the possibility of interest rate guidance for the entire year. The major pair currently trades around 140.94, gaining 0.03% on the day.
That said, the Fed is widely expected to raise its benchmark rate by another quarter-point on Wednesday. It is widely anticipated that the Fed will increase interest rates by 25 basis points to 5.25–5.50%. However, investors will take cues from the messaging in the monetary policy statement. A hawkish stance from the Fed could trigger the US Dollar against the Japanese Yen.
These comments suggest that Japanese policymakers will likely maintain a dovish stance in order to keep inflation above 2% and are expected to keep their monetary policy unchanged on Friday. BoJ officials added that central banks prefer to examine more data before adjusting monetary policy. The monetary policy divergence between the BoJ and Fed might exert pressure on the Japanese Yen against its major rivals and could be a headwind for the USD/JPY pair.
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