USDJPY – Down
USDJPY trading plan:
The U.S. economy is strong amid robust consumer spending but some areas are slowing down, U.S. Treasury Secretary Janet Yellen said, adding that she expects continued progress in bringing inflation down over the next two years with a strong labor market. Yellen said that inflation can subside while maintaining a strong labor market, with unemployment in the 4% range, up slightly from the 3.7% reading in May. Yellen said that legislation to lift the debt ceiling and reduce U.S. deficits by more than $1 trillion over a decade would support the Federal Reserve’s efforts to bring down inflation. Yellen also said many European Union and other countries are working to enact a 15% global corporate minimum tax agreed in 2021, but which Congress has not ratified. Other countries‘ collections of some taxes from U.S. firms under the global minimum levy may persuade Congress to adopt it, she said.
Investment idea: buy 139.60 and take profit 140.50.
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