USD/JPY Dips for Two Days Straight near 115.00s as Ukraine Fans Risk-Disinclination

Updated:

USD/JPY gathers latest losses near 115.00 as risk-off feeling supports the Dollar’s demand during today’s Asian session. The risk gauge pair was also affected by the remarks from the Fed policymakers and a powerful US Job report.

Stimulating Factors
The continued Russian attack on Ukraine revealed that the peace talk which was recently held between the two countries failed, because the Russian President seems determined to keep fighting till he wins over Ukraine. UK Defense Chief (Admiral Sir Tony) felt that; Russia can increase the violence through mindless killing and even more mindless killing of opposing forces.

Also, the US jobs report three days ago (Friday) rolled in on a strong note for February, and Federal Reserve System Evans rendered hawkish words before the Federal Reserve System Silence time started. The news is that the Nonfarm Payroll increased by 648,000, which is well above the predicted 400,000k number and an upward review of 484,000 before, also the unemployment rate reduced by 3.8 percent as opposed to the 4.0 percent past reading and 3.8 percent anticipated.

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Somewhere else, Federal Reserve System Evans said “The US apex bank is prepared to increase the rate this year, however, it might exceed what I think, it is necessary to do so during each policy meeting.”

While displaying the risk-off feeling, Wall Street ended the day at a loss, and the US ten years T- yield (Treasury Yield) as well recorded the largest weekly loss ever since middle 2020 as at the end of three days ago (Friday). Also, S&P 500 features dipped by 1.0 percent by press time.

Going forward, risk promoters as well as the US consumer value index for last month is very important for traders of the USD/JPY pair to watch.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.