The USD/JPY currency pair has weakened, trading at a two-week low of 155.45 during the early Asian session on Tuesday. This decline in the exchange rate is attributed to comments from Bank of Japan (BoJ) Governor Kazuo Ueda, who hinted at a potential rate hike in December. The Japanese Yen (JPY) is gaining traction against the US Dollar (USD) amid this hawkish outlook from the central bank.
As the market reacts to Ueda's signals, traders are reassessing their positions, leading to increased volatility in the USD/JPY pair. The implications of a rate hike could further strengthen the JPY, adding pressure to the USD as traders adjust their expectations for future monetary policy. With the exchange rate now hovering below the critical level of 155.50, market participants will be closely watching upcoming data releases and central bank announcements for further direction.
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Data Source: FX Killer Analysis Team Updated: 2025-12-01 23:18
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.