USD/JPY licks Fed-inflicted wounds at six-week low under 131.00 as yields stay weak – by anilpanchal7 USDJPY YieldCurve Fed RiskAversion BOJ
Yields remain pressured amid dovish Fed hike, banking sector turmoil.Second-tier data, risk catalysts can entertain Yen pair sellers ahead of Friday’s Japan inflation.picks up bids to pare intraday losses around 130.80 amid early Thursday morning in Europe. In doing so, the Yen pair bounces off a six-week low marked earlier in the day as traders seek more clues to extend the Federal Reserve induces moves.
On the same line are Citibank CEO Jane Fraser’s efforts to placate market fears while saying, "This is not a credit crisis. This is a situation where it's a few banks," per Bloomberg. It should be noted that multiple central bank officials have also tried their hands to rule out fears of the 2008 crisis earlier but have failed so far.
Fed confirmed the market’s expectations of announcing a 0.25% rate hike but failed to convince the policy hawks and drowned the yields, as well as the US Dollar. The reason could be linked to the statements saying, “Some additional policy firming may be appropriate,” instead of previous remarks like “Ongoing increases in the target range will be appropriate.”and US Treasury Secretary Janet Yellen’s comments triggered the market’s pessimism.
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