The USD/JPY wrapped up the trading week struggling to develop momentum in either direction from the 142.00 handle after the US Dollar (USD) slumped against the Japanese Yen (JPY) following a mid-week pivot from the US Federal Reserve (Fed), with the central bank finally meeting market participants in the middle on rate cut expectations heading into 2024. The Fed’s dot plot of policymakers’ cumulative interest rate expectations next year sees the Fed expecting a median of three rate cuts for a total of 75 basis points in rate cuts from the Fed’s current reference rate of 5.5%. While the Fed has moved closer to market ... (full story)