USD\/JPY was out of favour for a fourth straight session.
\nRisk off trading boosted JPY, dragging on the major.
\nMild USD strength &softer US data were shrugged off.<\/p>\n
The USD\/JPY trended lower across the US session hitting fresh weekly lows of mid-104.00s in the last hour. The mood in the market soured after the FOMC appeared in no rush to introduce additional monetary stimulus. The Fed upwardly revised its economic outlook forecasting a less severe downturn in 2020. This sparked some USD short-covering moves, which failed to lift the pair.<\/p>\n Bank of Japan’s more optimistic outlook on the domestic economy buoyed the JPY, dovish remarks by the BoJ Governor Haruhiko Kuroda, saying that the BoJ would not hesitate to add monetary easing., were broadly ignored. In the post-meeting press conference, Kuroda further pointed to the possibility that rates could go lower than current levels.<\/p>\n The USD\/JPY trades around its lowest level since late July and with no respite from weaker US data. the Philly Fed Manufacturing Index printed in line with forecast sinking lower to 15 in September from 17.2 the previous month. Initial Jobless Claims, Building Permits and Housing Starts missed expectations.<\/p>\n Technical indicators on hourly charts are showing oversold conditions . Any further sell off is more likely to find support at July monthly swing lows in the 104.20-15 region.<\/p>\n","protected":false},"excerpt":{"rendered":" USD\/JPY was out of favour for a fourth straight session. Risk off trading boosted JPY, dragging on the major. Mild USD strength &softer US data were shrugged off. The USD\/JPY trended lower across the US session hitting fresh weekly lows of mid-104.00s in the last hour. After ticking higher to 105.15 USD\/JPY sold off again […]<\/p>\n","protected":false},"author":163946597,"featured_media":5609,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2675,1381],"tags":[2673,1398,3168],"class_list":{"0":"post-104886","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-jpy","8":"category-usd","9":"tag-jpy","10":"tag-usd","11":"tag-usd-jpy"},"acf":[],"yoast_head":"\n
\nAfter ticking higher to 105.15 USD\/JPY sold off again moving into the red for the 4th<\/sup> straight session on Thursday. The move lower was owing solely to a steep rise in demand for the Japanese yen and shrugged off the mild advance in the USD.<\/p>\n