USD/JPY trades on a positive note above 155.80 on Fed’s hawkish comments

USD/JPY remains firm around 155.85 in Monday’s Asian session. The BoJ reduced the amount of JGBsthat itpurchased in its latest operation. A cautious approach from the US Fed boosts the Greenback broadly. The USD/JPY pair trades on astrongernote near 155.85 during the Asian trading hours on Monday. The hawkish stance from the US Federal Reserve has provided some support tothe Greenback in recent sessions.

Financial markets have priced in 5% odds of a June rate cut, down from 10% at the start of last week, while September chances have fallen to 75% from nearly 90% at the beginning of last week. The preliminary University of Michigan Consumer Sentiment Index arrived at 67.4 in May from 77.2 in April, worse than the estimation of 76.0. Furthermore, the one-year inflation outlook climbed to 3.5%,andthe five-year outlook rose to 3.1%, the highest level since November 2023.

Source: Digital Coin News (digitalcoinnews.net)

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