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USD/JPY Bears Target 131.5 as More Cracks Appear in the US Economy
It is a quiet morning for the USD/JPY. There were no economic indicators from Japan to draw interest. The lack of stats will leave investors to consider the overnight US wholesale inflation and jobless claims figures. While a sharp fall in the US producer price index and a larger-than-expected increase in US jobless claims were bearish, investor bets of a 25-basis point Fed interest rate hike in May remained relatively steady this morning. According to the FedWatchTool, the probability of a 25-basis point Fed interest rate hike in May fell from 70.4% to 68.3% overnight. The numbers support one more hike in May before ... (full story)
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- Posted: Apr 14, 2023 12:18am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 1,016
