The drop in USD/JPY today also owes to traders feeling out odds of a quicker BOJ rate hike after the better-than-expected Japan Q2 GDP data.
Overall, it doesn't reflect all too much appetite but it speaks to dollar sentiment in the bigger picture at the moment. Traders are firmly pressing down on the currency in wanting to push the Fed for a rate cut in September.
However, there are other concerns for the dollar in the grand scheme of things. Fed independence and BLS credibility are both at stake amid Trump's political takeover of both institutions and the risks of that should not be undermined.
As for now, traders might have to just stick with more of a push and pull mood until Jackson Hole and then the US jobs report on 5 September.
This article was written by Justin Low at investinglive.com.Hence then, the article about dollar gives back a chunk of its gains from the day before was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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