Daily Market Analysis from Investizo
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Fundamental analysis USDJPY for 27.03.2024
The USD/JPY pair drifted lower for the third consecutive day, nearing its lowest level since November 2023 against the backdrop of a dovish stance from the Bank of Japan (BoJ) following its recent interest rate hike. Despite the BoJ's move, uncertainty persists regarding future policy steps, with the central bank refraining from providing clear guidance on the trajectory of policy normalization. Verbal interventions from Japanese authorities have served to stem further losses, but the JPY remains under pressure.
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The USD/JPY pair drifted lower for the third consecutive day, nearing its lowest level since November 2023 against the backdrop of a dovish stance from the Bank of Japan (BoJ) following its recent interest rate hike. Despite the BoJ's move, uncertainty persists regarding future policy steps, with the central bank refraining from providing clear guidance on the trajectory of policy normalization. Verbal interventions from Japanese authorities have served to stem further losses, but the JPY remains under pressure.
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Fundamental analysis USDJPY for 01.04.2024
The Japanese Yen (JPY) initiates the week with a a softer note against the US Dollar (USD), yet lacks significant momentum, remaining ensconced within a familiar range sustained over the preceding fortnight. The cautious stance of the Bank of Japan (BoJ) regarding further policy tightening, coupled with the prevailing risk-on sentiment, continues to exert downward pressure on the safe-haven JPY. Nevertheless, the prospect of potential government intervention to counter excessive depreciation in the domestic currency restrains aggressive bearish bets on the JPY.
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The Japanese Yen (JPY) initiates the week with a a softer note against the US Dollar (USD), yet lacks significant momentum, remaining ensconced within a familiar range sustained over the preceding fortnight. The cautious stance of the Bank of Japan (BoJ) regarding further policy tightening, coupled with the prevailing risk-on sentiment, continues to exert downward pressure on the safe-haven JPY. Nevertheless, the prospect of potential government intervention to counter excessive depreciation in the domestic currency restrains aggressive bearish bets on the JPY.
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