USD/JPY is trading lower amid a drop in the dollar after Fed Chair Powell said the Fed is on track to cut rates this year.
Portfolio Pulse from Benzinga Newsdesk
USD/JPY is trading lower following a decline in the dollar, triggered by Federal Reserve Chair Powell's announcement that the Fed plans to cut rates this year.
April 03, 2024 | 5:45 am
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USD/JPY pair is experiencing a decline due to Fed Chair Powell's statement on planned rate cuts, leading to a weaker dollar.
The USD/JPY pair's decline is directly linked to the weakening of the dollar following Fed Chair Powell's announcement of planned rate cuts. This news impacts investor sentiment and currency value, leading to a short-term negative impact on the USD/JPY pair.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100