USD/JPY rises to fresh monthly highs after strong US data

Share:

• USD/JPY rose to a high of around 150.77, it highest level since late October 2022.
• US Q3 GDP preliminary estimates beat expectations, as well as Durable Goods orders from September.
• Jobless Claims from the third week of September came a tick higher than the expectations.
• The USD holds its foot despite lower US yields and dovish bets on the Fed. 

In Thursday’s session, the USD/JPY continued gaining ground, rising to a high of around 150.77 and then settling at 150.35. The US Dollar is trading strong against its rivals, with the DXY index rising to monthly highs and keeping its momentum despite the US Treasury yields retreating. Despite robust economic activity data, markets continue to bet on higher odds of the Federal Reserve not hiking again in 2023.