USDJPY near 2-week high; Investors brace for Fed and BoJ decision

USDJPY pair is holding at a two-week high of 149.50 on Tuesday as dollar sees some firmness ahead of FOMC scheduled for the week. The yield on the 10-year US Treasury note remained firm at 4.31%. DXY that measures the greenback against a basket of currencies is quoting above 103, but still struggles around 5-month lows. Concerns over US trade policies, with President Donald Trumps aggressive tariff stance raising fears of potential economic slowdown is keeping the greenback under pressure. Meanwhile, data yesterday showed that US retail sales came in slightly less than expected at 0.2% in February after tumbling by a revised 1.2 percent in January. However, President Donald Trump set to engage in discussions over Ukraine with Russian President Vladimir Putin will also be watched for direction. Meanwhile, the Bank of Japan is set to announce its monetary policy decisions this week which took the yen to a six month high last week amid hawkish expectations after Japan's labor unions have secured the highest wage hike in over 30 years, fueling hopes of economic recovery but also raising concerns about inflation.

Powered by Capital Market - Live News