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May 04 - 08:55 PM

USD/JPY - Retreats As Fed Calms Excitable Hawks; Downside Limited

By Krishna K  —  May 04 - 07:15 PM
  • USD/JPY down 0.8% Wed as Fed delivers widely expected 50bps hikenL2N2WW1W8

  • Bulls disappointed as Powell pushes back on expectations of 75bps hike

  • Downside likely limited as Fed-BOJ monetary policy divergence here to stay

  • Supported by elevated U.S. yields which continue to hover near 3-year highs

  • USD quick to rebound from 128.62 o/n low, boosted by positive risk sentiment

  • Early Asia 129.12-129.54 as buyers step in; resistance 129.70-80, 1301.10-20

  • Support 129.10-20, 128.60 which is 61.8% of most 126.96-131.15 rally

  • For more click on FXBUZ


Quantitative tightening and rate hikes Click here

Source:
Refinitiv IFR Research/Market Commentary

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