Posted 12/7/2023, 12:20:16 PM
Yen Drops, Markets Cautious Ahead of Big Week for Data and Central Banks
- USD/JPY fell 1.7% early today following comments from BoJ Governor Ueda hinting at possible future policy pivot
- Markets cautious ahead of US jobs data Friday and central bank meetings next week
- Rate cut bets for 2024 being repriced; expect policy pivots in 2024 but not convinced in Q1 yet
- Gold rangebound for now but uncertainty and safe haven flows providing support
- Later today initial jobless claims, Bank of Canada Governor Macklem speech, then attention turns to US jobs report