The USD/JPY pair prepares for a decisive break above the psychological resistance of 150.00 in the late European session. The asset seems strong as th
USD/JPY aims for a decisive break above 150.00 as the appeal for the US Dollar improves. S&P Global reported an uptick in US business activities in a survey in October. The BoJ focuses on replacing imported factors’ contribution to price pressures with higher wage growth. e US Dollar Index extended upside after S&P Global reported an uptick in business activities in the survey for October.
Going forward, investors will focus on the Q3 Gross Domestic Product and the Fed’s preferred inflation gauge, which could impact the interest rate decision from the Fed in its monetary policy meeting on November 1. Meanwhile, the Bank of Japan continues to remain fearful over the inflation outlook as higher price pressures have been majorly contributed by imported factors and the central bank is looking to replace them with higher wage growth.
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