image credit: Piqsels

USD/JPY Starts Week Strong; Tokyo Inflation, ISM Services, Powell & NFP in Focus

March 4, 2024

Via: DailyFX

USD/JPY climbed upwards on Monday, rising about 0.2% to 150.36, supported by increasing U.S. Treasury yields, with the U.S. 10-year bond back above 4.20% in late morning trading in New York. This week, markets are laser-focused on a series of critical data releases that hold the potential to significantly impact the pair’s direction.

Tokyo’s inflation report, a leading indicator for Japan’s overall price trends, starts things off today. In terms of expectations, the core CPI gauge is projected to have accelerated to 2.5% y-o-y in February from 1.6% previously. A higher-than-anticipated print may prompt the Bank of Japan to rethink negative rates sooner, which could benefit the yen.

Read More on DailyFX