USD/JPY trims losses on higher US Treasury yields, eyes on labor market data
Noticias de Bitcoin Ethereum The USD/JPY wrestles near the 141.50 area. Markets currently project a considerable 160 basis points rate cuts by the Fed in 2024, weighting on the pair. Ahead of key NFP figures of December, weekly Jobless Claims came in higher than expected. In Thursdays session, the USD/JPY pair declined to 140.25 but then recovered to 141.50. Dovish bets on the Federal Reserve (Fed) made the markets dump the US Dollar, and disappointing US Jobless Claims, which rose in the third week of December, dragged the USD/JPY down. During the American session, a recovery in US yields seems to give the Greenback traction. Next week, the US will report additional key labor market figures. During their final 2023 gathering, the Federal Reserve recognized an inflation deceleration, reinforcing the notion that there will be no rate increases in 2024, and the Summary of Economic Projections (SEP) showed that the Federal Open Market Committee (FOMC) members forecast 75 bps of easing. This led to a broad USD selloff, and markets are expecting a rate reduction in both March and May. The dovish sentiments got further impetus from the recent Personal Consumption Expenditures (PCE) data from November, the Feds preferred inflation metric, which came in




