The USD/JPY pair trades near 161.00 on Friday, easing slightly after reaching a two-year high of 161.81 on Thursday, and breaking a five-day winning streak for the US Dollar (USD).The Japanese Yen (JPY) remains fragile as pressure mounts over a possible new intervention by authorities to strengthen
UOB Global Economics & Markets Research notes that the US Dollar extended gains after the Fed’s hawkish hold, pushing USD/JPY sharply higher to 161.37. The pair is now trading near levels that previously triggered Japanese authorities’ intervention.
The Bank of England (BoE) is on track to leave the benchmark Bank Rate unchanged at 3.75% for the fourth consecutive time on Thursday, as the US-Iran peace deal and the softer-than-expected consumer inflation figures seen earlier in the week have eased pressures to tighten its monetary policy.