USD/JPY hits a new 11-month high, approaching the key 150.00 lev
Updated
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USDJPY, which opened higher at the beginning of the week, is currently trading at 149.78 USD in early Asian trading on Monday. This level is considered an 11-month high after bouncing off the low of 148.52 following the release of the Bank of Japan (BoJ) Summary of Opinions. Meanwhile, the US Dollar Index (DXY) holds above 106.00 amid renewed demand.
The pair was supported by a fresh rise in US Treasury yields and dovish BoJ comments. However, the risk of Japan's foreign exchange intervention is increasing.
On the other hand, the Japanese Yen could strengthen thanks to potential intervention by the Bank of Japan (BoJ). Japanese Finance Minister Shunichi Suzuki reiterated on Thursday that he would not rule out any steps to respond if there were any excessive exchange rate movements. Therefore, it is considered a move higher for this pair.
USDJPY, which opened higher at the beginning of the week, is currently trading at 149.78 USD in early Asian trading on Monday. This level is considered an 11-month high after bouncing off the low of 148.52 following the release of the Bank of Japan (BoJ) Summary of Opinions. Meanwhile, the US Dollar Index (DXY) holds above 106.00 amid renewed demand.
The pair was supported by a fresh rise in US Treasury yields and dovish BoJ comments. However, the risk of Japan's foreign exchange intervention is increasing.
On the other hand, the Japanese Yen could strengthen thanks to potential intervention by the Bank of Japan (BoJ). Japanese Finance Minister Shunichi Suzuki reiterated on Thursday that he would not rule out any steps to respond if there were any excessive exchange rate movements. Therefore, it is considered a move higher for this pair.
Note
good luck everyoneNote
What do you think about the market this week? Comment your thoughts and wishes.Note
The currency pair has decreasedNote
This upward trajectory is attributed to the US Dollar (USD) benefiting from reduced investor demand and increased risk appetite. As a result, money has flowed into USD, which is considered a safe haven currency.Note
USDJPY is rising as expected, about to reach 150.00, come on!
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