$USDJPY is making weak attempts to rebound higher. Get the analysis here:
Enter your emailAlthough there was limited trading, the price of the USD/JPY currency pair moved at the beginning of this week’s trading between the support level 126.85 and the level of 127.82. It settled around the level of 127.60 at the time of writing the analysis.
Meanwhile, German inflation hit an all-time high, adding to the urgency of the European Central Bank's exit from crisis-era stimulus after figures out of Spain beat economists' estimates. The reports came 10 days before a crucial European Central Bank meeting where officials are set to announce the completion of large-scale asset purchases and confirm plans to raise interest rates in July for the first time in more than a decade.
For his part, Federal Reserve Governor Christopher Waller said that he wants to continue raising interest rates in steps of half a percentage point until inflation falls back towards the US central bank's target. "I am in favor of a policy tightening of another 50 basis points for several meetings," he added, in remarks prepared for delivery in Frankfurt. And "in particular, I won't take 50 basis points off the table until I see inflation drop near our 2 percent target.
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