Key takeaways USD/JPY’s sharp intraday reversal bears the hallmarks of official intervention. The sudden 0.5% decline during the Asian-London session, coupled with reports that Japanese authorities may be shifting toward less predictable intervention tactics, suggests Read more…
USDJPY needs interventions and rate hikes. Monetary policy divergence is pushing EURUSD lower. The US dollar found no clues in Kevin Warsh’s comments, and attention shifted to the US labour market report for June. The Read more…
Japan may not have spent a dollar today, but it may have achieved one of the key goals of intervention anyway. USD/JPY plunged from 162.59 to below 161.30, a move large enough to trigger immediate Read more…