Centfx
The Japanese Yen is still weak as Powell, the Fed, states that 50 basis point cuts are not a new pace.
On Thursday, the US dollar (USD) continues to strengthen against the Japanese yen (JPY), despite a reduction in its intraday losses. The risk-sensitive Japanese yen (JPY) kept losing value on Wednesday in spite of the US Federal Reserve's (Fed) aggressive 50 basis point (bps) interest rate reduction. With the Bank of Japan's (BoJ) policy decision due this Friday, traders are now concentrating on it. It is anticipated that rates would remain steady while providing space for future rate hikes. Furthermore, careful attention will be paid to Japan's National Consumer Price Index (CPI) statistics, as the inflation report has the potential to shed light on the BoJ's future interest rate trajectory. Fed policymakers revised their quarterly economic projections, raising the median estimate of unemployment from 4.0% in June to 4.4% by the end of 2024. Additionally, they increased the 2.8% to 2.9% long-term forecast for the federal funds rate.
#centfx #forexknowledge #forexlife #forexlondon #forexcommunity
At CentFX Limited, we redefine your forex trading experience with zero spreads. Enjoy a cost-efficient high leverage approach to trading, wh













