USD/JPY struggles around monthly top during four-day uptrend. The USD/JPY pares in a single day gains to 114.10, up 0.07% on a day, during a four-day uptrend to Thursdays Asian session.
While doing so, the yen pair portrays the market‘s cautious sentiment ahead of the key central bank meetings, following the US Federal Reserve’s (Fed) hawkish performance.
Which is to say, softer-than-previous readings of Japan‘s preliminary PMI data for December and the hopes of tighter monetary policy from the Fed, as well as the ECB’s refrain to sound hawkish, put a floor under the USD/JPY prices of late. And also means that Japans Markit/Jibun Bank Manufacturing PMI eased from 54.5 to 54.2 whereas its Services counterpart dropped below 53.0 to 51.1.
Other way around, chatters surrounding the US Build Back Better (BBB) plan and hopes of Sino-American tussles, recently over Uyghur Bill and Beijings rush to control data, seems to test the USD/JPY buyers.
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