Share: USD/JPY extends its rally for the fifth day, flirting with the 151.00 level, driven by rising US Treasury yields and Fed Chair Powell’s inflation concerns. Market sentiment shifts following the University of Michigan data, indicating lower confidence in the economic outlook and persistent inflation fears. Japanese Yen’s further decline is tempered by
Share: EUR/JPY takes offers to refresh intraday high while reversing from multi-year high. Nine-week-old ascending resistance line restricts immediate upside amid sluggish MACD. Convergence of 10-DMA, monthly support line joins upbeat RSI to keep buyers hopeful. Upbeat Eurozone CPI, HICP data for August can bolster hawkish bias about ECB and restore upside. EUR/JPY
POUND STERLING TALKING POINTS BoE pushes rates to 5.25%. Incoming economic data will be more crucial than ever moving forward. GBP struggles to find a bid post-announcement. Recommended by Warren Venketas Get Your Free GBP Forecast GBP/USD FUNDAMENTAL BACKDROP The Bank of England (BoE) decided to hike interest rates by 25bps (see economic calendar below)
