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Political measures to counter coronavirus will be the market focus this The prolonged impact of the COVID pandemic resulted in worldwide central banks launching asset-buying and lending programs while keeping the main rates on hold at record lows. The US Dollar Japanese Yen can be seriously affected by news or the decisions taken by two main central banks:.

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The FOMC organizes 8 meetings in a year and reviews economic and financial conditions. Also determines the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth.

The Bank of Japan is the central bank of Japan and it's a juridical person established based on the Bank of Japan Act, nor being a government agency either a private corporation. The most important missions of the BOJ are the following: to issue and manage banknotes, to implement monetary policy and to ensure stability of the financial system. Almost all of the decisions are taken by the Policy Board, formed by a bunch of members working to provide currency and monetary control and setting the next moves that the central bank will take.

Jerome Powell took office as chairman of the Board of Governors of the Federal Reserve System in February , for a four-year term ending in February His term as a member of the Board of Governors will expire January 31, Born in Washington D. Powell served as an assistant secretary and as undersecretary of the Treasury under President George H. He also worked as a lawyer and investment banker in New York City.

From through , Powell was a partner at The Carlyle Group. Jerome Powell Fed's Profile and Wikipedia. He had previously worked as President of the Asian Development Bank for 8 years.

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His words are usually followed by traders in order to find any clue of next possible trend in the currency. Japanese Yen has a low-interest rate and is normally used in carrying trades. This is the reason why is one of the most traded currencies worldwide. The nature of this correlation is due to the fact that both currency pairs also use the US Dollar as the base currency.

The value of the pair tends to be affected when the two main central banks of each country, the Bank of Japan BoJ and the Federal Reserve Bank Fed , face serious interest rate differential.

Dollar - Yen Chart

The pair is also called 'The Cable', referring to the first Transatlantic cable that was crossing the Atlantic Ocean in order to connect Great Britain with the United States of America. The popularity of the Pound Dollar is due to the fact that represents two strong economies: British and American from the United States of America.

Update: Gold price activates the negative scenario.

Live Forex Updates. US oil rigs count rises this week. Dollar rises after Powell's remarks.

US personal spending fall short of forecasts in February. Dollar slips, but remains near 4-month high with US consumer spending data in focus.

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