Abstract：USD/JPY Continues to Reach 10-Month Highs.
USD/JPY Continues to Reach 10-Month Highs.
The value of the Japanese yen alongside the US dollar continues to be weak. At the moment, the exchange rate for USD/JPY is 147.52. Since the start of this year, the yen has seen a depreciation of more than 12%.
Despite lack of strong resistance, the US Dollar is consistently increasing against the JPY. The chance for the yen to rebound is heavily dependent on the Bank of Japan's decisive break from its excessively lax monetary policy.
On the flip side, it's imperative for the US dollar to lose some of its appeal to buyers. To facilitate this, the prospects for the US economy must become less attractive in the eyes of bullish investors.
Visible signs of a slowdown in the US economy, like a slight cooling in the job market or the potential for lower interest rates, are insufficient to weaken the dollar.
Domestic data in Japan paints a picture of a deteriorating situation. Household spending in July saw a decline of 2.7% m/m, contrary to the forecast of a 0.7% growth and a previous increase of 0.9%. On an annual basis, the indicator plummeted by 5.0%, which is twice as severe as expected
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