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Category: CRYPTO NEWS
The post Japanese Yen pulls back from one-week high against USD; bullish bias remains appeared on BitcoinEthereumNews.com. The Japanese Yen attracts some intraday sellers amid a combination of negative factors. Calls for the BoJ to slow tapering beyond 2026 and a positive risk tone undermine the JPY. The divergent BoJ-Fed policy expectations should cap any meaningful upside for the pair. The Japanese Yen (JPY) retreated sharply from a one-week low touched against its American counterpart during the Asian session on Tuesday. Comments from a former Bank of Japan (BoJ) board member Makoto Sakurai, along with requests made at a meeting between the central bank and financial institutions on May 20-21, suggest that the BoJ might proceed slowly in reducing its balance sheet. Furthermore, this underscores the challenge the BoJ faces in removing its massive monetary stimulus. Adding to this, a modest recovery in the global risk sentiment prompts traders to lighten their JPY bullish bets. Any meaningful JPY depreciation, however, still seems elusive in the wake of the growing acceptance that the BoJ will continue raising interest rates amid the broadening inflation in Japan. The bets were reaffirmed by BoJ Governor Kazuo Ueda’s remarks in the Japanese parliament. This, along with rising trade and geopolitical tensions, could support the safe-haven JPY. Meanwhile, hawkish BoJ expectations mark a big divergence in comparison to the market pricing of at least two rate cuts by the Federal Reserve (Fed) this year, which should cap any US Dollar (USD) recovery and benefit the lower-yielding JPY. Japanese Yen bulls opt to take some profits off the table; downside potential seems limited A former Bank of Japan board member Makoto Sakurai said this Tuesday that the central bank is expected to halt its quarterly reductions in government bond purchases starting next fiscal year. Sakurai noted that authorities are concerned that continued reductions could push yields higher, making it harder to manage the economy…
2025-06-03T02:36:35+00:00