• Hawkish tone by Powell should be enough to keep USD/JPY around 146.00 – ING

Noticias del mercado

25 agosto 2023

Hawkish tone by Powell should be enough to keep USD/JPY around 146.00 – ING

USD/JPY has risen steadily in line with rebounding US treasury yields since Thursday’s early session when it touched a 144.50 low. Economists at ING analyze the pair’s outlook ahead of today’s speech by Fed Chair Jerome Powell at the Jackson Hole Symposium.

Tokyo inflation slows

Inflation figures for Tokyo showed a deceleration in price pressures which were in line with the Bank of Japan estimates and slightly below consensus. Inflation in the capital moved below the 3% mark in August for the first time since September 2022, essentially endorsing the BoJ’s reluctance to scale back monetary easing.

We think that a hawkish tone by Powell is largely priced in today, but should be enough to keep USD/JPY around 146.00 for today.

 

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