The Japanese Yen (JPY) continues with its struggle to register any meaningful recovery against its American counterpart and drops to a fresh multi-decade low during the Asian session on Monday.
The Japanese Yen continues to be undermined by the BoJ’s uncertain outlook about future rate hikes. Intervention fears and persistent geopolitical tensions could help limit losses for the safe-haven JPY. Reduced Fed rate cut bets favor the USD and support prospects for a further move up for USD/JPY. The Japanese Yen continues with its struggle to register any meaningful recovery against its American counterpart and drops to a fresh multi-decade low during the Asian session on Monday.
Traders now look to the US economic docket, featuring Retail Sales figures and the Empire State Manufacturing Index, which, along with Fedspeak, should influence the USD demand and provide a fresh impetus to the major. Technical Analysis: USD/JPY bulls retain control near multi-decade high, could aim to conquer the 154.00 mark From a technical perspective, last week's sustained break through a short-term trading range hurdle near the 152.00 mark was seen as a fresh trigger for bulls.
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