Published: 2024-09-24T02:52:25.000Z
USD/JPY flows: Looks set for another leg
FX Analyst
3
Japan Jibun preliminary Sep PMIs: Manufacturing 49.6 (prior 49.8) Services 53.9 (53.7)
The USD/JPY is trading 0.08% higher at 143.69 with both the U.S. Treasury and JGB yields lower. The rebound post FOMC seems to have ended and looks like the USD/JPY is ready for another leg lower.
The trigger point could be anticipation change of Fed cut and BoJ hikes. We expect the BoJ to prepare the market for an imminent hike in the coming week.