USD/JPY trades with modest losses around mid-137.00s, downside seems cushioned – by hareshmenghani USDJPY Fed RiskAppetite BOJ Currencies
ices, for now, seem to have snapped a five-day winning streak and currently trade around mid-137.00s, down nearly 0.15% for the day.
The US Dollar stands tall near its highest level since March 24 touched on Wednesday amid speculations that the Federal Reserve will keep interest rates higher for longer. The expectations were fueled by the recent hawkish comments by several Fed policymakers, which forced investors to scale back their bets for interest rate cuts during the second half of the year.
The Japanese Yen , on the other hand, is likely to be undermined by a more dovish stance adopted by the Bank of Japan .
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