Forex
USD/JPY Shrugs Off Soft US Data and Faster BOJ Hike Talk
The yen has been receiving several tailwinds over the past week, but USD/JPY remains insensitive to softer US data and faster BOJ hike talk.
Recent trends are starting to question the narrative of US economic exceptionalism behind USD/JPY's multi-decade highs.
A Bloomberg report suggests the Japanese government is becoming more comfortable with the Bank of Japan hiking interest rates sooner, but markets already have around 74% of a hike priced for September and more than three hikes priced into the curve by next year.