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USD/JPY and 140.5 in the Hands of US Stats and Debt Ceiling Talks
It is another quiet start to the day for the USD/JPY. There are no major economic indicators from Japan to draw interest this morning. The lack of stats will leave market sentiment toward monetary policy and the debt ceiling crisis to provide direction. FOMC members appeared uncertain about peak interest rates despite ongoing worries about inflation. However, FOMC members were also concerned about the debt ceiling, which likely contributed to the policy uncertainty. With the Fed in limbo and the markets facing an increased threat of a US default, the USD/JPY took an early tumble this morning. USD/JPY Price Action: ... (full story)