The Japanese Yen (JPY) kicks off the new week on a subdued note and remains pinned near a multi-decade trough against its American counterpart during the Asian session.
The Japanese Yen remains on the defensive amid the BoJ’s uncertain policy outlook. A positive risk tone also undermines the JPY, though intervention fears limit losses. Reduced Fed rate cut bets act as a tailwind for the USD and lend support to USD/JPY. Traders now seem reluctant ahead of this week’s key central bank event and data risks.
From the US, the Advance Q1 GDP print and the Personal Consumption Expenditures Price Index are due for release on Thursday and Friday, respectively, which should influence the US Dollar price dynamics.
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