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USD/JPY: Gains Momentum as Interest Rates Drive Yen Pairs
The USD/JPY experienced a significant rally during Friday's trading session, largely propelled by the prevailing interest rate dynamics in the financial markets. In the longer term, interest rates in the United States have been on an upward trajectory, contributing to the dollar's strength against various currencies, notably the Japanese yen. The yen, backed by a central bank actively engaged in quantitative easing, maintains near-zero interest rates, making the US dollar an attractive choice for investors.One pivotal level of interest is the ¥147.80 mark, which previously served as resistance and is now likely to ... (full story)