USD/JPY sights 137.00 as Fed policy fear increases.

 

As the risk-off sentiment intensifies, USD/JPY attempts to move its auction profile above 137.00. Market players’ nervousness has increased due to conflicting opinions on the Federal Reserve’s prognosis for its policies. The Bank of Japan is making vigorous efforts to reach its target inflation rate of 2%. In the face of technical advantages, USD/JPY gains are anticipated to accelerate.

In the early European session, the USD/JPY circles the pivotal level of 137.00. Investors are becoming worried ahead of the release of the Federal Reserve’s interest rate decision. Thus USD/JPY is attempting to elevate its company profile over the previously stated crucial barrier (Fed). This is the final monetary policy of CY2022, and volatility is likely to linger a bit longer due to growing anticipation that the rate of interest rate hikes would slow down. Jerome Powell, the head of the Federal Reserve, is also anticipated to issue interest rate forecasts for the whole calendar year 2023.

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