USD/JPY slides below 132.00 despite mixed Tokyo Inflation data, focus on Fed Chair Powell

Posted on AllSides January 9th, 2023

• Upbeat Fedspeak, long weekend in Japan allowed Yen bears to take a breather ahead of Fed Chair Powell’s speech. USD/JPY takes offers to refresh the intraday low near 131.60 as it prints a three-day downtrend even as the Tokyo inflation data fails to bolster hawkish expectations from the Bank of Japan (BOJ). The reason could be linked to the long weekend in Japan, as well as the wait for Fed Chair Jerome Powell’s speech and the US inflation data. As per the latest Tokyo inflation data, the headline Consumer...

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