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HomeFinance NewsUSD/JPY reaches 151.30 in ForexLive Asia-Pacific FX news wrap.

USD/JPY reaches 151.30 in ForexLive Asia-Pacific FX news wrap.

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The aftermath of the recent Bank of Japan meeting on Tuesday had a significant impact on the yen in Asia, as Yen crosses saw a rise with USD/JPY reaching 151.30 and EUR/JPY climbing to nearly 164.50, its highest level since 2008. The potential for verbal intervention to support the JPY seems imminent as markets closed in Japan for a public holiday.

As traders eagerly awaited the Federal Open Market Committee (FOMC) statement and press conference from Federal Reserve Chair Powell, major FX markets saw small ranges prevailing. The FOMC previews highlighted the anticipation surrounding the upcoming announcements and decisions from the Federal Reserve, adding to the cautious sentiment in the markets.

In China, the People’s Bank set Loan Prime Rates, keeping both the 1-year and 5-year rates unchanged at 3.45% and 3.95% respectively, aligning with expectations. Meanwhile, a meeting between Chinese Foreign Minister Wang Yi and Australia’s Foreign Affairs Minister Penny Wong in Australia signaled a slow and ongoing improvement in relations between the two countries. The intricate web of international economic and political events continues to shape market movements and sentiments.

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