The USD/JPY pair is climbing to levels not seen since 2002. One of the catalysts for the Japanese yen's weakness today is the bond market. US 10-year bond yields began to rise in early New York trading, jumping to 3.01%. This is the first move above 3% since a brief breakout in May. The Bank of Japan continues to hold the ultra-loose monetary policy. Haruhiko Kuroda, head of the Bank of Japan (BOJ) reiterated today that the most important goal for the central bank is to support the economy by maintaining massive stimulus programs.
Chart of the USDJPY pair, MN interval.
Daily Summary - The market starts to doubt rate hikes after Warsh, but Trump destroys the rebound
Not so hawkish words, dovish dodges. EURUSD at 1.1450 during Kevin Warsh's Q&A
BREAKING: Fed Keeps Rates Unchanged Amid Regional Dissents and Warsh's Pause
🟡Gold tests $4000 ahead of the Fed decision