{"id":118621,"date":"2024-11-25T17:52:13","date_gmt":"2024-11-25T17:52:13","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=118621"},"modified":"2024-11-25T17:52:13","modified_gmt":"2024-11-25T17:52:13","slug":"109360-usd-jpy-yen-rises-on-hopes-of-a-boj-rate-hike","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/109360-usd-jpy-yen-rises-on-hopes-of-a-boj-rate-hike\/","title":{"rendered":"USD\/JPY: Yen rises on hopes of a BoJ rate hike"},"content":{"rendered":"<ul>\n<li><strong>The Japanese Yen (JPY) is rising after losses last week<\/strong><\/li>\n<li><strong>Inflation above 2% &amp; hawkish BoJ comments lift JPY<\/strong><\/li>\n<li><strong>The US Dollar (USD) falls after gains last week<\/strong><\/li>\n<li><strong>Trump selects Scott Bessent for Treasury Secretary<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Japanese Yen (USD\/JPY) exchange rate is falling after gains last week. The pair rose 0.26% in the previous week, settling on Friday at 154.74. At 17:30 UTC USD\/JPY trades 0.32% lower at 154.28 and is in a range of 153.55 to 155.73.<\/p>\n<p>The Japanese yen is pushing higher after losses last week, benefiting from falling U.S. Treasury yields, and optimism that a rate hike by the Bank of Japan in the December meeting is still on the table.<\/p>\n<p>Japanese inflation, as measured by the consumer price index, was weaker than expected, easing to 2.3% from 2.4%. However, this was still above the central bank\u2019s 2% target, fueling rate hike bets.<\/p>\n<p>Comments from Bank of Japan governor Ueda also kept the prospect of a rate cut in the December meeting alive.<\/p>\n<p>This week, the economic calendar is relatively quiet. The main focus is on Tokyo inflation, due on Friday, which is often considered a lead indicator for nationwide inflation.<\/p>\n<p>The US Dollar is falling across the board on Monday. The US Dollar Index, which measures the greenback against a basket of major currencies, is falling to 107.01 at the time of writing, down 0.49%, after rising 0.8% last week.<\/p>\n<p>The US dollar is falling against its major peers as the market cheers President-elect Trump&#8217;s choice for Treasury Secretary.<\/p>\n<p>Trump selected Scott Bessent to be the Treasury Secretary. Bessent is considered an old hand on Wall Street and a fiscal conservative.<\/p>\n<p>Bessent is reportedly in favor of more specific trade tariffs rather than the broad-based tariffs that Trump had previously alluded to. However, Besseent has also previously said that he&#8217;s in favor of a stronger U.S. dollar, which means any USD weakness may be short-lived.<\/p>\n<p>Today, the US economic calendar is quiet; however, attention will turn to tomorrow&#8217;s FOMC minutes and US core PCE, the Fed&#8217;s preferred gauge for inflation.<\/p>\n<p>Core PCE is expected to tick higher to 2.8% year on year in October, which could dampen expectations of the Federal Reserve cutting rates at the December meeting.<\/p>\n<p>Currently, the market is pricing in a 2456% probability of a 25 basis point reduction at the December 17 to 18 meeting.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Japanese Yen (JPY) is rising after losses last week Inflation above 2% &amp; hawkish BoJ comments lift JPY The US Dollar (USD) falls after gains last week Trump selects Scott Bessent for Treasury Secretary The US Dollar Japanese Yen (USD\/JPY) exchange rate is falling after gains last week. The pair rose 0.26% in the [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5318,"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-118621","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 rises on hopes of a BoJ rate hike - 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\/109360-usd-jpy-yen-rises-on-hopes-of-a-boj-rate-hike\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\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\\\/109360-usd-jpy-yen-rises-on-hopes-of-a-boj-rate-hike\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109360-usd-jpy-yen-rises-on-hopes-of-a-boj-rate-hike\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"USD\\\/JPY: Yen rises on hopes of a BoJ rate hike\",\"datePublished\":\"2024-11-25T17:52:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109360-usd-jpy-yen-rises-on-hopes-of-a-boj-rate-hike\\\/\"},\"wordCount\":395,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109360-usd-jpy-yen-rises-on-hopes-of-a-boj-rate-hike\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100877-gbp-usd-brexit-concerns-pound-lower.jpg\",\"keywords\":[\"JPY\",\"usd\",\"usd\\\/jpy\"],\"articleSection\":[\"JPY\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109360-usd-jpy-yen-rises-on-hopes-of-a-boj-rate-hike\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109360-usd-jpy-yen-rises-on-hopes-of-a-boj-rate-hike\\\/\",\"name\":\"USD\\\/JPY: Yen rises on hopes of a BoJ rate hike - 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