USD/JPY flirts with daily low, below mid-138.00s amid the global flight to safety – by hareshmenghani USDJPY China Coronavirus Bonds Currencies
The narrowing of the US-Japan rate differential also underpins the JPY and weighs on the pair.USD/JPY pair
struggles to capitalize on Friday's modest bounce and comes under some renewed selling pressure on the first day of a new week. The pair maintains its offered tone through the early European session and is currently flirting with the daily low, around the 138.30-138.25 region. The worsening COVID-19 situation drives haven flows towards the Japanese Yen, which is seen exerting downward pressure on the USD/JPY pair. In fact, China reported a record-high number of daily infections on Saturday, forcing the government to impose strict anti-COVID measures in several cities. Moreover, public discontent over the zero-COVID policy flared protests across China and raises concerns about a further slowdown in economic activity.
The flight to safety, along with growing acceptance of a less aggressive policy tightening by the Fed, continue to drag the US Treasury bond yields lower. This results in the further narrowing of the US-Japan rate differential, which provides an additional lift to the Japanese Yen. That said, a modest US Dollar strength extends some support to the USD/JPY pair.
Despite a dovish assessment of the November FOMC meeting minutes, the US central bank is still expected to deliver another 50 bps rate hike in December. In contrast, BoJ, so far, has shown no inclination to hike interest rates. Moreover, BoJ Governor Haruhiko
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
USD/JPY Price Analysis: Bearish around mid-138.00s inside fortnight-old triangleUSD/JPY Price Analysis: Bearish around mid-138.00s inside fortnight-old triangle – by anilpanchal7 USDJPY Technical Analysis ChartPatterns SupportResistance SwingTrading
Leer más »
The 138 Absolute Best Black Friday Deals Right NowThese are the top discounts we’ve found across the web this weekend. Whether you want binoculars or a robot vac, there’s something for everyone.
Leer más »
James’ season-high 39 points lead Lakers by Spurs, 143-138LeBron James had a season-high 39 points along with 11 rebounds and the Los Angeles Lakers escaped with a 143-138 victory over the San Antonio Spurs.
Leer más »
Triple take: Lakers 143, Spurs 138Spurs coach Gregg Popovich left the AT&T Center thrilled with the way his depleted team...
Leer más »
USD/JPY aims to test 140.00 as risk-off profile rebounds, Fed Powell’s speech eyedUSD/JPY aims to test 140.00 as risk-off profile rebounds, Fed Powell’s speech eyed – by Sagar_Dua24 USDJPY Fed Coronavirus Employment RiskAversion
Leer más »
Should Hunter Biden be the Focus of House GOP Investigations?The next GOP-controlled congress is planning a number of investigations. Should Hunter Biden be their top priority? See perspectives across the spectrum from davidharsanyi, mattklewis, and thedailybeast:
Leer más »