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Hello everyone, today XM Forex will bring you "[XM Forex Decision Analysis]: The US dollar/Japanese yen is trading sideways, and the Japanese yen exchange rate is affected by concerns about the Bank of Japan raising interest rates." Hope this helps you! The original content is as follows:
XM Foreign Exchange APP News - During the European trading session on Monday (November 17), the USD/JPY exchange rate rose to around 154.80. Although the economic data released by Japan was better than expected, the exchange rate was still close to the February high. Japan's gross domestic product (GDP) fell by 0.4% quarter-on-quarter in the third quarter (up 0.6% quarter-on-quarter in the second quarter), better than the expected 0.6% decline. Japanese Prime Minister Sanae Takaichi previously stated that the Bank of Japan should maintain low interest rates to support economic growth and gradual inflation. After these remarks, the yen continued to be under pressure. Meanwhile, Bank of Japan Governor Kazuo Ueda noted that consumer spending remains resilient amid rising household incomes and a solid labor market. He added that core inflation is steadily approaching the 2% target, leaving room for possible interest rate hikes. The outlook for USD/JPY is positive.
The above content is all about "[XM Foreign Exchange Decision Analysis]: The U.S. dollar/yen is trading sideways, and the Japanese yen exchange rate is affected by the Bank of Japan's concerns about interest rate hikes." It is carefully wzhdjgj.compiled and edited by the XM foreign exchange editor. I hope it will be helpful to your trading! Thanks for the support!
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