USD/JPY sticks to modest intraday gains around mid-145.00s amid sustained USD buying – by hareshmenghani USDJPY Fed Bonds BOJ Currencies
Aggressive Fed rate hike bets continue to boost the USD and lend support to the pair.USD/JPY pair
The US dollar buying remains unabated on the first day of a new week, which, in turn, is seen as a key factor offering support to the USD/JPY pair. In fact, the USD Index, which measures the greenback's performance against a basket of currencies, climbs to a one-and-half-week high amid expectations for a more aggressive policy tightening by theThe markets are currently pricing in a greater chance of the fourth consecutive supersized 75 bps rate increase at the next FOMC meeting in November.
That said, intervention fears hold back traders from placing fresh bulls bets and capping gains for the major, at least for the time being. It is worth recalling that Japan's finance minister Shunichi Suzuki said last week that the government stands ready to intervene in FX markets to prevent deeper losses in JPY.
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