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USD/JPY Weekly Outlook: Hormuz overshadows huge BOJ and Fed week
USD/JPY has reverted to a straight rates play between the US and Japan, with developments in the Gulf the key underlying driver of both outlooks. Extended uncertainty surrounding the Iran war now has both the Federal Reserve and Bank of Japan expected to keep policy settings on hold in the near term, a sharp shift from the pre-conflict view that the Fed would cut at least two times this year while the BOJ hiked twice.
Date:
25.04.2026 |
Source:
forex.com
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Quotes
| Instrument | Price | Change (%) |
|---|---|---|
| EURUSD | 1.172250 | +0.34071% |
| GBPUSD | 1.353200 | +0.48662% |
| USDJPY | 159.335670 | -0.20939% |
| XAUUSD | 4708.520060 | +0.30741% |
| USDCAD | 1.366960 | -0.22066% |
| NZDUSD | 0.588030 | +0.41749% |
| USDCHF | 0.785130 | +0.005279% |
| AUDUSD | 0.715080 | +0.2989% |
| EURGBP | 0.866280 | -0.14774% |
| EURJPY | 186.781300 | +0.11648% |
| GBPJPY | 215.613510 | +0.30168% |
| AUDJPY | 113.865170 | +0.081009% |
| CADJPY | 116.562310 | +0.005413% |
| CHFJPY | 203.541620 | +0.16283% |
| NZDJPY | 93.667950 | +0.25254% |
| GBPCHF | 1.062440 | +0.44741% |
| EURCHF | 0.920370 | +0.2506% |
| USDMXN | 17.375000 | -0.18384% |
| USDZAR | 16.522300 | -0.60937% |
| USDTRY | 44.990000 | +0.026902% |
| USDRUB | 75.610000 | -0.34256% |
| USDSEK | 9.220760 | -0.32398% |
| USDCNY | 6.835400 | +0.14504% |
Upcoming Important Events
| Time | Country | Event | Forecast | Previous |
|---|---|---|---|---|
| 27.04.2026 | ||||
| 06:00 | 🇩🇪 | Consumer Confidence (May) | -29.5 | -28 |
| 28.04.2026 | ||||
| 03:00 | 🇯🇵 | BoJ Interest Rate Decision | 0.75 | 0.75 |
| 14:00 | 🇺🇸 | CB Consumer Confidence (Apr) | 91.8 | |
| 29.04.2026 | ||||
| 12:00 | 🇩🇪 | CPI MoM (Apr) | 1.1 | |
| 12:00 | 🇩🇪 | Inflation Rate YoY (Apr) | 3 | 2.7 |
| 12:30 | 🇺🇸 | Building Permits (Feb) | 1.36 | 1.386 |
| 12:30 | 🇺🇸 | Building Permits (Mar) | 1.39 | 1.386 |
| 12:30 | 🇺🇸 | Durable Goods Orders MoM (Mar) | 0.5 | -1.4 |
| 12:30 | 🇺🇸 | Housing Starts (Feb) | 1.41 | 1.487 |
| 12:30 | 🇺🇸 | Housing Starts (Mar) | 1.4 | 1.487 |