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Hello everyone, today XM Forex will bring you "[XM Forex]: Expectations of Japanese yen intervention are rising, USD/JPY maintains bullish momentum". Hope this helps you! The original content is as follows:
XM Foreign Exchange APP News - During the European trading session on Monday (November 24), the U.S. dollar against the yen showed a volatile upward trend, and the overall trend remained above the short-term moving average, with bullish momentum taking advantage of the stage. Basic Analysis The USD/JPY exchange rate is strengthening again after falling sharply on Friday. Selling pressure on the dollar intensified last week as markets continued to price in expectations that the Federal Reserve could cut interest rates in the www.xmxmxm.cning months - with labor market weakness seen as a more serious risk than high inflation. The probability that the Fed will cut interest rates by 25 basis points in December has climbed to 75% from 44% a week ago. At the same time, Japanese Prime Minister's Advisor Takaichi Sanae made it clear that the Japanese authorities are ready to actively intervene in the foreign exchange market to alleviate the impact of the depreciation of the yen on the economy. Last week, Bank of Japan Governor Kazuo Ueda and Finance Minister Katayama Satsuki also expressed concern about the currency's depreciation. These remarks have led to market expectations: if the USD/JPY exchange rate approaches the 160 mark. Traders believe that intervention may occur between 158 and 162 yen, and the lackluster trading due to Thanksgiving later this week may be a window for the authorities to take action. Nick Rees, director of macro research at MonexEurope, said, "The Japanese yen is currently under attack by two factors. On the one hand, as the Bank of Japan continues to raise interest rates, front-end interest rates are rising; on the other hand, due to potential fiscal risks, the long end of the curve has been rising." Rees said that the market is more concerned about the long-term risks of the Japanese economy rather than the short-term impact on the exchange rate. Intervention could help slow USD/JPY's rise, but not www.xmxmxm.cnpletely reverse it, as the fundamentals underpinning this move are unlikely to change in the short term.
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