USD/JPY sticks to modest intraday gains just below mid-140.00s, focus shifts to US GDP – by hareshmenghani USDJPY Fed GDP BOJ Currencies
n the aftermath of the highly-anticipated FOMC decision. Spot prices currently trade just below mid-140.00s, up 0.15% for the day, and for now, seems to have stalled the recent pullback from the vicinity of the 142.00 mark.
The Federal Reserve as was widely expected, raised interest rates by 25 bps to the 5.25%- to 5.50% range, or the highest in 22 years, citing still-elevated inflation as a rationale. In the accompanying policy statement, the Fed said that the committee will continue to assess additional information and its implications for monetary policy.
The Japanese Yen , on the other hand, is undermined by expectations that the Bank of Japan will retain its easy-money policy. The BoJ Governor Kazuo, however, reiterated on Wednesday that the central bank will stick to its accommodative monetary stance and added that the long-term yield rate remains stable under the yield curve control policy.
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