USD/JPY closed higher for the second day in a row after falling to the 149.20 mark for three consecutive days last week and is now approaching the 150.50 mark.
USD/JPY rose to 151.72 on Tuesday, just 20 pips shy of a new 31-year high, as the stubbornly dovish Bank of Japan (BoJ) continued to ignore the yen in favor of maintaining ultra-easy monetary policy, and market risk aversion Supportive financial flows continue to support the dollar.
Today’s foreign exchange market: The dollar’s rebound momentum weakens; U.S. bond yields continue to fluctuate
On Wednesday, Federal Reserve Chairman Jerome Powell will deliver a speech at the Centennial Conference of the Division of Research and Statistics in Washington, D.C. Investors will pay close attention to the Fed chief’s speech, seeking to follow up on Friday’s U.S. non-farm payrolls report (NFP). New signal from the Fed after hitting 30-month low.
Japan’s trade account data will be released in early Asian trading on Thursday, and the market expects that the current account will continue to grow without seasonally adjustment in September. The indicator is expected to be 3,000.8 billion yen in September, compared with 2,279.7 billion yen in August.
