December 13, 2024 at 03:18AM
The US dollar is broadly higher pretty much across the majors’ board.
JPY is notably weak on the session, USD/JPY above 153.00 as I update.
The only thing we’ve had of Japan was the Q4 Tankan, which wasn’t too bad and showed firms expecting inflation above the BOJ 2% target out for 5 years.
BoJ Q4 Tankan reports that firms expect Japan inflation to remain above 2%
Amidst all the rumours of a BoJ hold decision next week the Tankan stands out as saying there’s still a chance of a hike (IMO). Nevertheless, yen is weaker on the session.
USD/JPY update – that red line I’ve drawn in is around 153.30 where I think perhaps some resistance on the day. I’m sure ForexLive traders in the comments have better ideas than me though!
Those rumours:
BOJ reportedly sees little cost to waiting for next rate hike
BOJ reportedly erring towards keeping interest rates unchanged next week (The leaks keep on coming)
Goldman Sachs expect the Bank of Japan to remain on hold at 0.25% at the December meeting
This article was written by Eamonn Sheridan at www.forexlive.com.
