USD/JPY grinds near 134.00 as US Dollar, yields fail to cheer hawkish Fed bets – by anilpanchal7 USDJPY YieldCurve BOJ Fed RiskAppetite
ils to cheer the downbeat US Dollar and the Treasury bond yields amid a sluggish start to the day. Also likely to have prod the Yen pair could be the latest Reuters Tankan Survey data.
That said, Japan’s Reuters Tankan Survey for April reprints -3.0 figure for Large Manufacturers whereas the Non-Manufacturers’ April index rose to 24 versus 21 in March. Apart from the overall upbeat Japan data, the Bank of Japan Official’s defense of the ultra-easy monetary policy renews concerns about the BoJ’s exit from easy money and weighs on the USD/JPY price. That said, New Bank of Japan Governor Kazuo Ueda said that BoJ bond purchases are not aimed at monetizing government debt while adding, “Interest are determined by various factors.” The policymaker also stated that there is no immediate need to review the 2013 joint statement with the government.
It’s worth noting that the US Housing Starts and Building Permits roiled the mood with downbeat prints for March on Tuesday. That said, the Housing Starts eased to 1.42M versus 1.432M prior and 1.40M market forecasts whereas the Building Permits dropped to 1.413M from 1.55M previous readings and analysts’ estimations of 2.2M.
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