{"id":118349,"date":"2024-09-26T22:10:49","date_gmt":"2024-09-26T21:10:49","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=118349"},"modified":"2024-09-28T11:13:38","modified_gmt":"2024-09-28T10:13:38","slug":"109272-usd-jpy-yen-struggles-after-boj-meeting-minutes-ahead-of-inflation","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/109272-usd-jpy-yen-struggles-after-boj-meeting-minutes-ahead-of-inflation\/","title":{"rendered":"USD\/JPY: Yen struggles after BoJ meeting minutes &#038; ahead of inflation"},"content":{"rendered":"<ul>\n<li><strong>Japanese Yen (JPY) steadies after losses yesterday<\/strong><\/li>\n<li><strong>The BoJ were divided over the pace of rate hikes<\/strong><\/li>\n<li><strong>US Dollar (USD) falls versus its major peers<\/strong><\/li>\n<li><strong>US jobless claims fall to a 4-month low<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Japanese Yen (<a href=\"https:\/\/currencylive.com\/exchange-rate\/1000-usd-to-jpy-exchange-rate-today\/\">USD\/JPY<\/a>) exchange rate is inching lower after a strong gain yesterday. The pair rose 1% in the previous session, settling Wednesday at 144.75. At 19:00, USD\/JPY trades -0.04% at 144.70 and trades in a range of 144.11 to 145.20.<\/p>\n<p>The yen fell sharply yesterday after the July Bank of Japan monetary policy meeting minutes showed that policymakers were divided over the pace at which the central bank should hike rates.<\/p>\n<p>The meeting minutes come after several Bank of Japan policymakers, including governor Kazuo Ueda, suggested this week that the central bank is in no rush to hike rates, sending the yen lower.<\/p>\n<p>Attention now turns to Tokyo inflation, which is expected to show that core inflation eased to 2% from 2.4%. Cooling inflation gives the Bank of Japan less motive to hike rates.<\/p>\n<p>The US Dollar is rising against the Rupee by falling against its major peers. The US Dollar Index, which measures the greenback against a basket of major currencies, trades at 100.53 at the time of writing, down 0.38%, giving back yesterday\u2019s gains.<\/p>\n<p>The U.S. dollar is falling as investors look past robust US data and continue to price in aggressive rate cuts from the Federal Reserve. Overnight, Federal Reserve governor Adriana Kugler said that she fully supported the bumper 50 basis point rate cut and said the attention now needs to turn to the labor market.<\/p>\n<p>However, today&#8217;s data from the labour department showed initial unemployment claims unexpectedly fell to 218,000, down from 222,000 the previous week. This marked a four-month low and defied expectations of a rise of 224K. The data points to resilience in the labor market.<\/p>\n<p>Furthermore, the Commerce Department&#8217;s second-quarter GDP figures confirmed the earlier reading of 3% annualized growth in the US economy.<\/p>\n<p>Federal Reserve chair Jerome Powell spoke at the 10th anniversary of the US Treasury market conference in New York; however, he didn&#8217;t comment on monetary policy or the economic outlook.<\/p>\n<p>Attention will now turn to US core PCE, the Fed&#8217;s preferred gauge for inflation. They expected it to show that inflation ticked higher to 2.7% year on year.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Japanese Yen (JPY) steadies after losses yesterday The BoJ were divided over the pace of rate hikes US Dollar (USD) falls versus its major peers US jobless claims fall to a 4-month low The US Dollar Japanese Yen (USD\/JPY) exchange rate is inching lower after a strong gain yesterday. The pair rose 1% in the [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":5080,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2675,1381],"tags":[2673,1398,3168],"class_list":["post-118349","post","type-post","status-publish","format-standard","has-post-thumbnail","category-jpy","category-usd","tag-jpy","tag-usd","tag-usd-jpy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>USD\/JPY: Yen struggles after BoJ meeting minutes &amp; ahead of inflation - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/109272-usd-jpy-yen-struggles-after-boj-meeting-minutes-ahead-of-inflation\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109272-usd-jpy-yen-struggles-after-boj-meeting-minutes-ahead-of-inflation\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109272-usd-jpy-yen-struggles-after-boj-meeting-minutes-ahead-of-inflation\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/JPY: Yen struggles after BoJ meeting minutes &#038; 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