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USD/JPY Forecast: A Tug of War Between Powell’s Words and Japanese Yen Inflation Data
On Thursday, the USD/JPY rallied by 0.68% to end the session at 145.824. A breakout session saw the USD/JPY rally from an early low of 145.598 to a high of 145.959 before easing back. Fear of a hawkish Fed Chair Powell speech reversed the losses from Wednesday. Tokyo Inflation Numbers Deliver More BoJ Policy Uncertainty This morning, Tokyo inflation numbers for August drew interest. The July national inflation figures gave no reason for the Bank of Japan to shift from its ultra-loose monetary policy stance. However, the Tokyo annual core inflation rate softened from 3.0% to 2.8% in August. Economists forecast core ... (full story)