4 Global Market Updates- 3 January, 2023

 

In this article, we have covered the highlights of global market news about the USD/JPY, AUD/USD, USD/CAD and EUR/USD.

USD/JPY recovers from multi-month lows and trades over 130.00.

After reaching its lowest point since late May at 129.50 during Asian trading hours, USD/JPY abruptly changed course and soared to 131.00. However, the pair lost its bullish vigor, and at 130.40, it was last spotted losing 0.25% on the day.

The rapid increase in the US dollar’s value in the European morning helped the pair on Tuesday. The Japanese yen strengthened earlier in the day as anticipation for a hawkish Bank of Japan (BOJ) policy change increased. The BOJ was reportedly contemplating boosting its inflation projections for 2023 and 2024 in January, according to Nikkei’s story over the weekend.

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