USD/JPY rebounds above 155.50 despite BoJ hike prospects

USD/JPY: A Resilient Rebound Amidst Market Anticipation

After a three-day losing streak, the USD/JPY pair is showing signs of life, attracting buyers and climbing back towards the 155.85 mark during the early Asian session on Wednesday. This rebound comes despite lingering prospects of a Bank of Japan (BoJ) hike, showcasing the US Dollar’s renewed strength.

The US Dollar (USD) is recovering some of its recent losses against the Japanese Yen (JPY) as market participants gear up for a series of crucial US economic data releases. Traders are keenly awaiting these figures, which could provide significant clues about the future trajectory of the Federal Reserve’s monetary policy, thus influencing the dollar’s strength.

As the pair navigates these crosscurrents – potential BoJ tightening on one side and pivotal US data on the other – its upward move above 155.50 signals a renewed optimism for the greenback. All eyes will be on the upcoming data to see if this recovery has the legs to continue.

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