USD/JPY breaks 144 after dovish BoJ cuts forecasts – ING
Source Fxstreet
USD/JPY climbed above 144 as a dovish Bank of Japan cut its growth and inflation forecasts, amplifying downside risks and sending JGB yields lower, while the broader risk environment continued to weigh on the US Dollar, ING's FX analyst Chris Turner notes.
USD/JPY rally may extend toward 145, but selling likely ahead
"Elsewhere, we've seen a dovish Bank of Japan meeting today, where growth and inflation forecasts have been cut, and importantly, downside risks are seen to both. JGB yields have fallen around 5bp across the curve."
"The double whammy of risk coming out of the dollar and a dovish BoJ has sent USD/JPY above 144. This could extend to 145, but we would expect more sellers to emerge there."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).
Gold price (XAU/USD) continues to trade in a narrow range around $3,300 on Wednesday as traders await key US economic data, which could become the catalyst for an imminent breakout.
Gold Price Forecast: XAU/USD attracts some sellers below $3,250 on firmer US DollarThe Gold price (XAU/USD) extends the decline to around $3,245 during the early Asian session on Thursday. The precious metal edges lower to near a two-week low amid easing US-China trade tensions and stronger US Dollar (USD) demand.
The Gold price (XAU/USD) extends the decline to around $3,245 during the early Asian session on Thursday. The precious metal edges lower to near a two-week low amid easing US-China trade tensions and stronger US Dollar (USD) demand.
Gold price (XAU/USD) remains under some selling pressure for the third successive day and drops to a two-week low, around the $3,230-$3,229 area during the Asian session on Thursday.
Ripple Price Forecast: XRP builds bullish momentum as Ripple eyes Circle with $5B acquisition bidRipple’s (XRP) price is consolidating at $2.21 at the time of writing on Thursday, reflecting sideways trading in the wider cryptocurrency market. There is a growing need for XRP to hold above the immediate $2.20 confluence support to validate the potential breakout targeting $3.00.
Ripple’s (XRP) price is consolidating at $2.21 at the time of writing on Thursday, reflecting sideways trading in the wider cryptocurrency market. There is a growing need for XRP to hold above the immediate $2.20 confluence support to validate the potential breakout targeting $3.00.
Related Instrument
