Dollar steady yen falls after BOJ rate hike
Report on the stability of the US dollar amid expectations of the Federal Reserve raising interest rates to 4% again next month, with a 53% probability of a 25 basis point increase at the upcoming meeting. Despite the Bank of Japan raising interest rates to the highest level in 31 years at 1.25%, the Japanese yen weakened against the dollar, with the USD/JPY pair rising by 0.7% to around 157 yen. There are prospects for further gains if market conditions remain unchanged. It is expected that the Bank of Japan will maintain its accommodative policy, while investors will watch the central bank governor’s press conference for clues on the timing and pace of future rate hikes. Additionally, data showed that Japan’s core inflation remained close to the Bank’s target of 2%, not prompting the market to expect a faster pace of monetary tightening.
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