JPY takes a pause. Overview for 12.02.2024

The Japanese yen, paired with the US dollar, remains stagnant at the beginning of the week. The current USDJPY exchange rate stands at 149.21.

At the same time, the USDJPY pair hovers near a ten-week low. Due to the information vacuum and lack of significant news, investors have opted to conserve energy and simply wait.

During the Asian session, there were no movements due to the reduced number of market participants owing to the region's Lunar New Year celebrations. The market is hardly preoccupied with the BoJ’s future interest rate decisions. No new comments on this issue have emerged, while the existing information has already been factored into account in the quotes.

The BoJ’s interest rate has remained negative at -0.10% per annum for many years. It might transition into neutral territory in April or shortly after.

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Source: RoboForex


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