Reported 8 months ago
The US Dollar saw initial pullback before showing strength against the Japanese Yen in trading on Monday. Potential signs of breaking through the psychologically significant 160 yen level were noted, with historical intervention by the Bank of Japan at this level. Short-term dip expected before potential breakthrough. Interest rate differentials continue to drive the USD/JPY rally, with no indication of rate cuts by the Federal Reserve. Outlook indicates continued weakening of the Japanese yen in the long term.
Source: YAHOO