Today’s Market Outlook Coordinated U.S.–Japan Intervention Changes the Market Regime as Traders Search for the Next Intervention Level
Today’s Market Outlook Coordinated U.S.–Japan Intervention Changes the Market Regime as Traders Search for the Next Intervention Level ■ Market Overview U.S. and Japanese authorities have confirmed that they conducted coordinated yen-buying intervention following the sharp appreciation of the yen late last week. Yen-buying pressure has continued today, with USD/JPY struggling to recover above the […]
USD/JPY Approaches 160 Again as Middle East Risks Ease Slightly
USD/JPY Approaches 160 Again as Middle East Risks Ease Slightly USD/JPY has risen into the upper 159 range and is once again approaching the psychologically important 160 level. The main drivers behind the move are: Ongoing interest rate differentials between the United States and Japan Risk appetite supported by strong equity markets A renewed expansion […]
Steady Progression of Yen Depreciation, Strongly Driven by Dollar Strength
Recently, the yen has been steadily depreciating at a gradual pace. Following two suspected covert interventions, USD/JPY has gradually risen to the 157 level. EUR/JPY is stabilizing around 170, and GBP/JPY around 200. Yesterday, statements from Minneapolis Fed President Kashkari that “nobody has taken a rate hike off the table” and a significant increase in […]