Forex Analysis by MarketPulse (Zain Vawda) covering: USD/JPY, US Dollar Index Futures. Read MarketPulse (Zain Vawda)'s latest article on Investing.com
US employment data this week is crucial for Fed’s September rate decision and USD/JPY direction.continued its advance on a thin liquidity Monday. The greenback is up around 0.57% against the JPY and on course for a fourth successive day of gains.has been on a steady rise over the past few days as investors remain optimistic about the US economy following last week’sThere is a large swatch of data out of both the US and Japan this week which could shape the trajectory of the pair.
Interestingly enough this comes despite the expectations of rate cuts from the Fed and rate hikes from the BoJ putting the two central banks on differing paths. In theory, the Yen should be gaining ground against the greenback, however there could be an explanation as to why the greenback is on the up.
Another consideration could be seasonality. Historically the US dollar enjoys a good month of September while US stocks seem to struggle. Will history repeat itself?
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