The USD/JPY experienced a sudden collapse, plunging more than 250 pips within a few minutes. The pair, which had been trading above 150.00 following t
volatility
was observed in Yen crosses due to recent developments, indicating a potential intervention by Japanese officials to strengthen the currency. The trigger for this could have been the USD/JPY rising above 150.00 following the release of positive USreport exceeded expectations, coming in at 9.61 million in August, surpassing the consensus estimate of 8.8 million. Following the report, the US 10-year Treasury bond yield surged to 4.74%, reaching a new high not seen since 2007.
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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 dropped to a fresh 2023-low near 1.0450 on Tuesday before staging a modest rebound. After the data from the US showed that the number of job openings rose unexpectedly in August, the US Dollar extended its rally and caused the pair to turn south in the American session.GBP/USD fell sharply to the 1.
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