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Jul 27 - 09:55 PM

USD/JPY - Drop Extends As Powell Calms Rates Nerves

By Krishna K  —  Jul 27 - 08:20 PM
  • USD/JPY down 0.3% in early Asia, extends 0.25% Wed post-Fed dropnL1N2Z83LL

  • Fed acknowledged softening of the economy after raising rates 75bps

  • Powell plays down talk of a recession, hints at a slower hiking path

  • U.S. 2-year yield falls 5.5 bps as Fed turns data dependant, weighs on USD

  • Market now pricing in fed funds peaking near 3.3% by Dec, 3.4% pre-Fed

  • Support 135.90-136.00, 135.45-55, resistance 136.60-65, 136.90-137.00

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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