It would have been a very boring session if it wasn't for a Bloomberg report saying that a BoJ rate hike was still on the cards for this year. The JPY got a boost from the headline and then extended the gains likely due to speculations of a cut coming already in October.
In the bigger picture, that wasn't new information as the market was already pricing basically a 50% chance for a hike by year-end, and that hasn't changed much after the Bloomberg report, even though the probabilities increased a bit.
Other than that, we haven't got any meaningful news or data release. Speaking of the data, there was just the US NFIB Business Optimism Index which improved slightly from the prior month. As for other business surveys, the economic conditions look positive and uncertainty continues to dimish, but the labour market remains frozen with low hiring and low firing.
That might change with the September Fed rate cut and expectations of more cuts coming in the next months...
This article was written by Giuseppe Dellamotta at investinglive.com.Hence then, the article about investinglive european fx news wrap the jpy jumps on renewed hopes for a boj hike 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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