Japanese Yen retains intraday bearish bias; USD/JPY jumps closer to mid-147.00s
The post Japanese Yen retains intraday bearish bias; USD/JPY jumps closer to mid-147.00s appeared on BitcoinEthereumNews.com.
The Japanese Yen continues to be weighed down by diminishing odds for a BoJ rate hike in 2025. Strong CPI prints from Japan and the upbeat PMIs do little to provide any respite to the JPY bulls. A modest US Dollar uptick also contributes to the USD/JPY pair’s move closer to the mid-147.00s. The Japanese Yen (JPY) selling remains unabated through the early European session on Monday as traders continue to push back their expectations about the likely timing of the next interest rate hike by the Bank of Japan (BoJ) to Q1 2026. Adding to this worries about the potential economic fallout from existing 25% US tariffs on Japanese vehicles and 24% reciprocal levies on other imports undermines the JPY. This, along with a modest US Dollar (USD) strength, lifts the USD/JPY pair to a fresh high since May 14, closer to mid-147.00s in the last hour. The JPY bulls, meanwhile, seem to have digested Friday’s release of Japan’s annual National Consumer Price Index (CPI), which remained well above the BoJ’s 2% target in May. Moreover, the better-than-expected PMI prints from Japan give the BoJ more impetus to hike interest rates again in the coming months. This, however, does little to provide any respite to the JPY bulls. Even rising geopolitical tensions in the Middle East fail to benefit the JPY’s relative safe-haven status, suggesting that the path of least resistance for the USD/JPY pair is to the upside. Japanese Yen bears retain intraday control despite the global flight to safety The Bank of Japan last week decided to slow the pace of reduction in its bond purchases from fiscal 2026. Moreover, the gloomy economic outlook and concerns about the potential economic fallout from US trade tariffs suggest that the BoJ could forgo raising interest rates in 2025. Data…
Filed under: News - @ June 23, 2025 7:29 am