USD/JPY spikes lower on US-Iran deal and consolidates ahead of BoJ and FOMC decisions
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FUNDAMENTAL OVERVIEW USD: The US dollar weakened across the board on Thursday after Trump cancelled the planned attacks on Iran and announced a deal to be signed in the following days. As a result, Fed rate hike expectations got pared back immediately with the market now pricing
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4 itemsUSD/JPY remains stuck in a tight range amid US-Iran deal optimism and hawkish Fed risk
The Indian Rupee rallies strongly as markets celebrate the US-Iran deal. What's next?
USD/JPY finally reaches a key level after multiple interventions. What's next?
Lead — The USD/JPY pair has reached a pivotal level following multiple interventions, with the outlook remaining bearish for the yen as geopolitical tensions ease. Per the full note [source], the US dollar has weakened amid positive developments regarding US-Iran relations, which could lead to a decline in oil prices and increased rate cut expectations. However, the Bank of Japan's recent decisions and the ongoing macroeconomic challenges suggest continued pressure on the yen. Upcoming US labor data will be crucial in shaping market sentiment and positioning ahead of potential Fed policy shifts.
USD/JPY stays bid despite more hawkish BoJ's Ueda comments and imminent rate hike report
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