USD/JPY rebounds as yen pares gains despite US political concerns
USD/JPY has recovered 0.4% to 145.80 during Monday's Asian session, as the yen retreated from earlier gains driven by US political uncertainty. The pair initially dropped to 145.20 amid concerns over Federal Reserve independence following political statements, triggering safe-haven flows into the Japanese currency. However, the dollar found support as traders reassessed the immediate impact of political rhetoric on monetary policy. Bank of Japan officials remain cautious about further policy tightening, providing limited support for sustained yen strength. Technical analysis shows USD/JPY facing resistance at 146.20, while immediate support lies at 145.50. Market participants remain wary of potential volatility from ongoing political developments in the US, which could reignite safe-haven demand for the yen in coming sessions.
Related Symbols:
USDJPY
This is a summary of the original article by investing.com. To read the complete article, please visit the source website:
Read Full Article at investing.comNews data provided by Marketaux. ForexSentiment.live provides this summary as a convenience with proper attribution to the original source. The full article is available at the original publisher's website.
