The USD/JPY pair attracts some sellers near 155.75 on Thursday during the early Asian trading hours.
USD/JPY loses momentum around 155.75i in Thursday’s early Asian session, down 0.30% on the day. Japan's exports rose for a seventh consecutive month in June. Rising odds of US rate cuts and the Fed’s dovish messages are likely to cap the pair’s upside. The pair edges lower on the weaker US Dollar broadly and speculation of the Bank of Japan intervention. The US weekly InitialJobless Claims and the Philly Fed Manufacturing Index are due on Thursday, along with the Fed’s Lorie Logan speech.
” Japanese Yen FAQs What key factors drive the Japanese Yen? The Japanese Yen is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors.
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