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USD/JPY Forecast: Yen Surges on BoJ Monetary Policy Speculations
On Wednesday, July 24, the Jibun Bank Services PMI increased from 49.4 to 53.9, boosting demand for the USD/JPY. The higher-than-expected services PMI likely fueled investor bets on a July Bank of Japan rate hike. The sub-components showed output price inflation accelerated in July, with employment rising more quickly. The July PMI was crucial as investors considered the looming Bank of Japan monetary policy decision. Bank of Japan Policy Decision Looms The Bank of Japan recently stated the need for the services sector to drive inflation. A pickup in service sector activity, higher employment, and output price trends ... (full story)
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- Jul 24, 2024 10:47pm Jul 24, 2024 10:47pm
- Wingcommandr
- | Joined Jun 2022 | Status: Member | 87 Comments
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- Posted: Jul 24, 2024 9:58pm
- Submitted by:Category: Fundamental AnalysisComments: 1 / Views: 3,370
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