The USD/JPY pair tumbles to near 156.00 in Tuesday’s American session.
USD/JPY weakens to 156.00 as BoJ rate-hikebets surge. The BoJ is expected to raise interest rates further by 10 bps as inflation remains above 2%. Investors await the US data for fresh guidance on interest rates. The asset weakens as the Japanese Yen strengthens amid expectations that the Bank of Japan will tighten its monetary policy further in its July monetary policy meeting. Economists expect that the BoJ will raise interest rates further by 10 basis points .
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. How do the decisions of the Bank of Japan impact the Japanese Yen? One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen.
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