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The Japanese Yen (JPY) edges higher against its American counterpart during the Asian session on Wednesday, albeit it lacks follow-through and remains confined in a familiar range held over the past two weeks or so.
The USD/CHF pair enters a bullish consolidation phase during the Asian session on Wednesday and oscillates in a narrow band near its highest level since November 11 touched the previous day.
Further selling pressure prompted the Greenback to retreat further and put the USD Index (DXY) on track to challenge the 104.00 support after weaker-than-expected.
In his remarks at the Stanford Graduate School of Business, Chair Jerome Powell reiterated once again that the policy rate is likely at its peak in the current cycle.
The Japanese Yen (JPY) struggles to capitalize on a modest uptick against its American counterpart during the Asian session on Tuesday and remains well within the striking distance of a multi-decade low touched last week.