JAPANESE YEN BULLS HAVE THE UPPER HAND AMID BOJ RATE HIKE BETS

JAPANESE YEN BULLS HAVE THE UPPER HAND AMID BOJ RATE HIKE BETS
The Japanese Yen (JPY) strengthens amid growing expectations for additional rate hikes by the Bank of Japan (BoJ).
Geopolitical risks and trade war fears also support the JPY’s safe-haven status.
The JPY remains near a one-month high against the USD as of the Asian session on January 31, 2025.
Positive economic data, including higher consumer prices in Tokyo, unexpected growth in Japanese Industrial Production, and stronger-than-expected Retail Sales, boost rate hike expectations.
Trump’s tariff threats limit JPY gains and offer some support to the USD/JPY pair.