The US dollar initially attempted to rally during Friday, but profit-taking activities dominated the market as traders sought to capitalize on recent gains.
pullback phase
The substantial interest rate differential between Tokyo and the US Federal Reserve contributes to a significant divergence between the two currencies. This discrepancy favors continued upward momentum in the USD/JPY pair over the long term.It is important to consider these fundamental factors when assessing the potential future movements of the market.
The US dollar's recent rally has prompted profit-taking activities, leading to a consolidation phase in the market. As the market experiences a slight pullback, it presents an opportunity for traders seeking to acquire "cheap" US dollars or sell overvalued Japanese yen.
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