JPY is rising rapidly. Overview for 11.07.2023
The Japanese yen has cancelled devaluation against the US dollar and is strengthening. The current USDJPY quote is 140.69.
In a way, the yen is in demand as a safe-haven asset, while the investment world is doubting the stability of the US dollar.
However, the fact that the USDJPY pair used to be overbought probably has a greater effect in this case. The market has no illusions about the stance of the Bank of Japan on the monetary policy, which is why investors currently focus on those things that are easy to analyse logically.
The market has little doubt that the monetary policy of the Bank of Japan will remain unchanged in July with the interest rate remaining negative.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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