The USD/JPY pair trades on a negative note near 155.75 during the early Asian session on Monday. The US Dollar (USD) softens against the Japanese Yen (JPY) amid the prospect of interest rate cuts by the US Federal Reserve (Fed) next year.
USD recovered some of yesterday’s losses and trading close to the middle of its range in place since June. The MSCI All Country World Index rallied to a record high yesterday underpinned by Fed easing and resilient global economic activity.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $57.85 during the Asian trading hours on Friday.