In US time on Thursday USD/JPY traded to circa 158.09, its highest since mid-July this year. The pair pulled back toward 157.50 during the session here, responding to:
December inflation in Tokyo accelerated for a second month, the government temporarily phased out utility subsidies;the ‘Summary of opinions’ from the Bank of Japan December meeting (when the bank maintained its policy rate at 0.25%) showed the policy board members remaining optimistic in its assessment that the economy and inflation are moving in line with its projections – amidst caveats of course – supporting market expectations for a near-term rate hike, perhaps as soon as the January 23-24, 2025 meeting.JPY crosses slid also. EUR/JPY’s slide was cushioned somewhat by a drift down a few points for EUR/USD. There were no fresh notable news items for the euro.
From China today we had data showing that industrial profits extended their decline to a fourth straight month, dropping 7.3%. The flip side, if you prefer a brighter take, is that the fall was slower than the 10% drop in October. The YTD figure worsened, to -4.7% in January-November from -4.3% in the January-October period.
Regional equities rose, following a lead from higher Wall Street.
This article was written by Eamonn Sheridan at www.forexlive.com.Hence then, the article about forexlive asia pacific fx news wrap usd jpy pulls back from above 158 00 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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