Market Overview Analysis by Fawad Razaqzada covering: USD/JPY, EUR/JPY, US Dollar Index. Read Fawad Razaqzada's latest article on Investing.com
The yen, on the other hand, is on a rally as Japanese bond yields rise while those in the US and Eurozone fall.The yen's recovery from earlier declines this year contrasts sharply with the euro's struggle this week, as poor data further weakens the EUR/JPY and holds backRising input costs also pose inflationary challenges.
With central banks globally beginning or planning rate cuts, and Japan tightening, attention is on the Bank of Japan's upcoming meeting, with speculations of a ten-basis point rate hike. The yen's recovery has reduced the need for government intervention in the FX space.The US dollar remains mixed, weakening against the yen and franc but strengthening against other currencies, including the euro. WhileThe US presidential race adds another layer of uncertainty.
Still, the Federal Reserve's interest rate decisions remain the main driver for the dollar. Investors are confident that the Fed will begin cutting rates in September, regardless of the election outcome.The yen's resurgence has caused key support levels in EUR/JPY to break, putting the pair on a bearish trajectory. EUR/JPY has fallen over 800 pips from its July high of 175.42, with significant selling pressure in recent sessions.
The proximity of the 200-day moving average to the 164.00 handle also makes this area a significant support zone. However, whether the price will reach this level remains uncertain.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GBP/USD: Pivotal Week to Spark Trading Opportunities With UK Elections LoomingForex Analysis by Fawad Razaqzada covering: EUR/USD, GBP/USD, USD/JPY, FTSE 100. Read Fawad Razaqzada's latest article on Investing.com
Read more »
DAX Ready to Take Off Again? Watch These Levels to Spot a BreakoutStocks Analysis by Fawad Razaqzada covering: EUR/USD, DAX. Read Fawad Razaqzada's latest article on Investing.com
Read more »
Silver Sets Stage for Rally to $35 - Today's Dip a Great Buying OpportunityCommodities Analysis by Fawad Razaqzada covering: XAG/USD, Silver Futures. Read Fawad Razaqzada's latest article on Investing.com
Read more »
GBP/USD Eyes 1.3 Handle With US CPI on Tap - Key Entry, Exit Levels to MonitorForex Analysis by Fawad Razaqzada covering: GBP/USD, US Dollar Index Futures. Read Fawad Razaqzada's latest article on Investing.com
Read more »
Japanese Yen Sentiment Analysis – USD/JPY, GBP/JPY, EUR/JPY LatestJapanese Yen trader data shows some sizeable shifts in Yen positioning against USD, GBP, and EUR.
Read more »
Gold: New ATH Likely as Fundamental Tailwinds Drive Bull Flag BreakoutCommodities Analysis by Fawad Razaqzada covering: XAU/USD, US Dollar Index Futures, Gold Futures. Read Fawad Razaqzada's latest article on Investing.com
Read more »