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Why the US Fed Could Drive the Japanese Yen This Week

Ricky Cove
Why the US Fed Could Drive the Japanese Yen This Week

The Japanese yen (JYN) gave up some of its gains in the previous week as the US dollar appreciated on the back of the increased odds of US rate hikes in the near future. The US dollar received a boost from the FOMC meeting minutes, which indirectly had a negative impact on the Japanese yen. Improved economic indicators from Japan did little to boost the yen last week.