DailyBubble News
DailyBubble News

USD/JPY moves above 155.50 due to the firmer US Dollar

USD/JPY rose on Friday as the US Dollar strengthened. Japan’s Current Account Surplus was below market expectations, leading to a weaker Japanese Yen. US Initial Jobless Claims increased to 231K, higher than the estimated 210K.

USD/JPY is trading around 155.70, recovering from previous losses. Japanese authorities may intervene to limit the pair’s upward movement. Finance Minister Shunichi Suzuki stated readiness to take action on foreign exchange if necessary.

Japan’s Current Account Surplus for March was JPY 3,398.8 billion, falling short of the expected JPY 3,489.6 billion increase. Capital inflows into Japan were lower than anticipated, weakening the Yen.

The USD received a boost from the Fed’s hawkish stance on maintaining higher interest rates. However, lower US Treasury yields, influenced by the higher-than-expected Initial Jobless Claims, posed resistance for the Greenback.

The US Michigan Consumer Sentiment Index for May is set for release, with predictions of a slight decline. This survey gauges consumer sentiment on personal finances, business conditions, and buying conditions.

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