Latest developmentabout 2 months ago
USDJPY Breaks 160 Level Following Hawkish Rhetoric from Fed Chair Warsh
The USDJPY pair surged past the 160 psychological level as traders increased bets on sustained high US interest rates.
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During the Jackson Hole symposium on August 31, Fed Chair Kevin Warsh signaled the possibility of future interest rate hikes. These hawkish remarks revived market bets for a rate increase in September. Additionally, U.S. economic data revealed that inflation and GDP met expectations, while durable goods orders exceeded forecasts.
The USDJPY pair surged past the 160 psychological level as traders increased bets on sustained high US interest rates.
Read the full storyFed Chair Kevin Warsh signaled continued policy tightening, prompting markets to price in a 57% chance of a September hike.
Fed Chair Kevin Warsh signals potential rate hikes as durable goods orders exceed forecasts despite mixed economic data.