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USD/JPY Rate Clears Opening Range for September to Eye 2021 High
USD/JPY clears the opening range for September even though the Federal Reserve retains the current course for monetary policy as the central bank unveils a tentative timeline to taper its purchases of Treasury securities and mortgage-backed securities. It seems as though it will only be a matter of time before the Federal Open Market Committee (FOMC) switches gears as Chairman Jerome Powell reveals that “a gradual tapering process that concludes around the middle of next year is likely to be appropriate,” and speculation for an imminent shift in Fed policy may keep USD/JPY afloat as the Bank of Japan (BoJ) shows ... (full story)