The USD/JPY pair continues its upward trajectory with no signs of abating.
The Japanese yen faced a decline against the US dollar on Wednesday, resulting in the current USD/JPY exchange rate standing at 147.44.
The yen’s current values mark the lowest since December 4 of the previous year. Various factors, including a robust US dollar and international influences, are exerting pressure on the Japanese national currency.
The increase in yields on US treasury bonds is contributing to the dollar’s ascent. This development follows statements from Christopher Waller, a manager within the Federal Reserve System, suggesting that the Fed should exercise caution before considering monetary policy easing, waiting for greater clarity on the inflation situation.
The yen is further affected by a decline in domestic inflation, potentially delaying the Bank of Japan’s plans to stabilize interest rates. Since the start of January, the yen has experienced a 4% decline, with domestic signals indicating a likelihood of further downturn.
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