Home›Forex›Major Pairs›Japanese yen strengthens as USD/JPY slips toward 158.90

Japanese yen strengthens as USD/JPY slips toward 158.90

The dollar is pressured by U.S. Treasury bond buybacks, while traders also look ahead to the July PCE inflation report before the Jackson Hole symposium.

Reported · Written up by our desk · Major Pairs

FXStreet reports USD/JPY fell during Asian trading on Wednesday, edging toward 158.90 as the Japanese yen gained ground.

The outlet links the move to U.S. Treasury bond buyback programs weighing on the U.S. dollar, with the Treasury planning to expand buybacks to at least $4 billion per operation from a current $2 billion maximum.

Traders are also focused on the release of the July Personal Consumption Expenditures, or PCE, Price Index later on Wednesday, ahead of the Jackson Hole symposium on Friday.

In the background, FXStreet notes that Bank of Japan Governor Kazuo Ueda will not attend the Jackson Hole gathering due to a schedule conflict, with BoJ board member Naoki Tamura attending instead. A Reuters poll cited by FXStreet also found 57% of economists expected a BoJ rate hike in September.

Latest closeUSD/JPY 159.31 ▼0.1%

More like this

Sources