USD/JPY pauses BoJ-inspired slump to multi-month low, finds some support near 132.00 – by hareshmenghani USDJPY BOJ YieldCurve Fed Currencies
Recession fears continue to weigh on investors’ sentiment and further benefit the safe-haven JPY.Theadds to its heavy intraday losses and plummets to over a four-month low, around the 132.00 mark during the mid-European session. The pair, however, manages to recover a few pips in the last hour and is currently trading around the 132.70-132.75 region.
Moreover, the cautious mood - amid growing recession fears - benefits the safe-haven JPY and exerts additional downward pressure on the USD/JPY pair. Investors remain concerned that a surge in COVID-19 cases in China could delay a broader reopening of the economy. Adding to this, geopolitical risks fuel worries about a deeper global economic downturn and take its toll on the risk sentiment.
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