Japanese yen surged across the board on Tuesday, gaining around 3% vs its major counterparts, in the biggest daily gain since late 2022. The rally was sparked by comments from Japan’s FinMin who said that timing to take decisive action in the market was nearing, while some reports, citing government and the central bank, said […]
The post Japanese Yen Surges on Likely Intervention of Japan’s Authorities appeared first on ActionForex.
Key Highlights USD/JPY started a sharp decline after it failed to clear 160.80. It dived over 500 pips and traded below 156.50 on the 4-hour chart. EUR/USD is again moving higher toward the 1.1750 resistance. Read more…
Japan’s PMI Manufacturing was finalized at 55.1 in April, up sharply from 51.6 in March and marking the strongest reading since January 2022. The data points to a robust rebound in factory activity, with output Read more…
Japan’s Tokyo core CPI (excluding fresh food) rose 1.5% yoy in April, below expectations of 1.8% yoy and slowing from 1.7% in March. The reading marks the weakest pace since March 2022, suggesting a temporary Read more…