DailyBubble News
DailyBubble News

USD/JPY steady on Friday after another week of gains

The US Dollar slightly eased on Friday but remained relatively steady against the Yen. In Japan, the National Consumer Price Index (CPI) inflation decreased in April. Risk appetite improved as US consumer inflation outlook showed signs of improvement.

The USD/JPY pair traded around the 157.00 mark on Friday, ending the day close to where it started. There were hopes for a rate cut by the Federal Reserve in September, but these expectations decreased as rate markets adjusted their odds. The Bank of Japan is focused on maintaining low interest rates until inflation reaches their target of above 2%.

Despite efforts by the Bank of Japan to intervene in global markets, the Yen continues to weaken, pushing Yen-based pairs towards record highs. The USD/JPY pair has been trading above the 200-day Exponential Moving Average, indicating a bullish trend.

Overall, the USD/JPY pair has been relatively stable, with slight fluctuations in recent trading sessions. The charts show a gradual increase in the pair’s value, although it is still below multi-year highs reached in late April.

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