After briefly rising back above the 150.00 level and hitting an intra-day high of 150.16, USD/JPY then fell abruptly to an intra-day low of 147.43. It
then fell abruptly to an intra-day low of 147.43. It has encouraged speculation that Japan intervened to support the Yen. Economists at MUFG Bank analyze the pair’sJapanese officials have declined to confirm if they intervened. Chief currency official Kanda instead continued to emphasize that they respond as always to excessive FX moves and are not ruling out any options regarding foreign exchange.
The release of the Nonfarm Payrolls report on Friday should prove more important in determining whether the US bond market sell-off and US Dollar rally extends further in the near term.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.EUR/USD is recovering ground to near 1.0500 in the European session. The pair extends the rebound, as the US Dollar pulls back alongside the bond yields ahead of the top-tier US ADP jobs data and the ISM Services PMI. Mixed EU data fails to have any impact on the major. GBP/USD is building on the recovery gains above 1.2100 in the European session on Wednesday.
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