The Japanese Yen extends losses despite the hawkish sentiment surrounding BoJ’s policy stance for next week. Japan’s Prime Minister Fumio Kishida stated that normalizing the BoJ’s monetary policy would help support a growth-driven economy. US President Joe Biden abandoned his re-election bid and endorsed Vice President Kamala Harris to face Republican Donald Trump. The Japanese Yen remains weak on Monday, extending its losing streak to a third consecutive session.
74 trillion from the financial system on Wednesday due to various government sector transactions, according to Nikkei Asia. Fed Chair Jerome Powell mentioned earlier this week that the three US inflation readings of this year add somewhat to confidence that inflation is on course to meet the Fed’s target sustainably, suggesting that a shift to interest rate cuts may not be far off. Technical Analysis: USD/JPY remains near 157.50 USD/JPY trades around 157.60 on Monday.