The post Japanese Yen adds to intraday losses after Japan’s weaker PMI report appeared on BitcoinEthereumNews.com.

The Japanese Yen drifts lower against the USD for the third successive day on Monday. Weaker Japanese PMIs and a positive risk tone seem to weigh on the safe-haven JPY.  The divergent BoJ-Fed policy expectations could cap any further gains for USD/JPY.  The Japanese Yen (JPY) continues to lose ground against its American counterpart for the third consecutive day on Monday and weakens further in reaction to the weaker flash March Purchasing Managers’ Index (PMI). Apart from this, a generally positive tone around the equity markets is seen as another factor undermining the safe-haven JPY. However, the case for further interest rate hikes, bolstered by expectations that strong wage growth could filter into broader inflation trends, might hold back the JPY bears from placing aggressive bets.  Apart from this, the recent narrowing of the rate differential between Japan and other countries should help limit deeper losses for the JPY. Meanwhile, the prospects for further policy easing by the Federal Reserve (Fed) fail to assist the US Dollar (USD) to capitalize on a three-day-old recovery move from a multi-month low touched last week and might contribute to capping the USD/JPY pair. Traders now look forward to the release of flash US PMIs for some impetus, though the fundamental backdrop seems tilted in favor of the JPY bulls.  Japanese Yen is pressured by the upbeat market mood and weaker PMI prints for March According to the preliminary estimates released earlier this Monday, the Au Jibun Bank Japan Manufacturing PMI declined from 49.0 in the previous month to 48.3 in March 2025. This marks the lowest reading since March 2024 and a ninth straight month of contraction.  Adding to this, the service sector, which had been a bright spot in Japan’s economy, also lost momentum and contracted for the first time in five…

---

Filed under: News - @ March 24, 2025 3:16 am