Japanese Yen Symbol
    Japanese Yen Symbol

    USD/JPY Fundamental Forecast – February 17, 2017

    8 months agoByJames Hyerczyk

    The USD/JPY is under pressure for a third day early Friday as investors adjust to the decline in U.S. Treasury yields and profit-taking in the higher-risk U.S. stock markets. Shortly before the opening of the U.S. session, the Forex pair is trading at 112.941, down 0.286 or -0.25%.

    The Dollar/Yen weakened yesterday after upbeat economic data failed to lift Treasury yields, with concerns about policy under President Trump weighing on the market as well as the diminishing chances of a Fed rate hike in March due to the lack of clarity from Fed Chair Janet Yellen earlier in the week.

    Daily USD/JPY

    The performance by the dollar this week against the Japanese Yen is disappointing because it comes during a week in which numerous reports showed the U.S. economy firing on all cylinders.

    Earlier in the week, robust inflation and retail sales data as well as hawkish remarks from Yellen drove the USD/JPY to its highest level since January 27. Indicators released on Friday also shed more positive light on the U.S. economy, with the Philly Fed manufacturing index jumping to a 33-year high. However, the good news was not able to overcome Yellen’s less-hawkish commentary on Wednesday where she called the economy “disappointing.”


    The USD/JPY is likely to remain under pressure today as long as U.S. Treasury yields and U.S. equity markets continue to weaken. And this is a distinct possibility because of growing uncertainty over the policies of President Trump and economic uncertainty in Europe. Additionally, the U.S. has a bank holiday on Monday that could lead to limited trading today.


    SymbolLast PriceChangeChart

    Live Quotes

    Top Promotions
    Top Brokers

    FX Empire - the company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as link result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.
    FX Empire may receive compensation from the companies featured on the network.

    All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. FX Empire bears no responsibility for any trading losses you might incur as link result of using any data within the FX Empire.