USD/JPY ends the week down 2%, pinned to 142.00 after mid-week Fed pivot

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• USD/JPY is down almost 2% from Monday’s opening bids.
• A pivot from the Fed saw the US Dollar decline sharply across the broader forex market.
• Next week pits the BoJ’s last rate call of the year against US GDP & PCE figures.

The USD/JPY wrapped up the trading week struggling to develop momentum in either direction from the 142.00 handle after the US Dollar (USD) slumped against the Japanese Yen (JPY) following a mid-week pivot from the US Federal Reserve (Fed), with the central bank finally meeting market participants in the middle on rate cut expectations heading into 2024.