The USD/JPY pair consolidates around the 158.00 round figure during the Asian session on Thursday and remains well within the striking distance of its highest level since late April touched last week.
USD/JPY bulls turn cautious near a one-and-half-month peak amid mixed fundamental cues. The BoJ’s cautious approach and the upbeat market mood undermine the safe-haven JPY. Fed rate-cut uncertainty keeps the USD bulls on the defensive and cap gains for the major. The mixed fundamental backdrop, meanwhile, warrants some caution before positioning for an extension of the recent appreciating move witnessed over the past two weeks or so.
Meanwhile, the US Dollar continues with its struggle to attract any meaningful buyers and languishes near the weekly low amid expectations that the Federal Reserve will cut interest rates twice this year, bolstered by signs that inflation is subsiding. This might contribute to keeping a lid on the USD/JPY pair.
BOJ Interestrate Fed Currencies
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