9:10 AM · 26 April 2024

BREAKING: Potential intervention on JPY market

A sharp move could be spotted on the Japanese yen market this morning, with investors wondering whether Bank of Japan decided to intervene. JPY has been weakening recently and has climbed to almost 157.00 mark today, after Bank of Japan kept rates unchanged. USDJPY slumped from around 156.70 to a daily lower of 154.96 in a matter of minutes. Such a sharp move, that is not triggered by data release or comment from BoJ member, is often an evidence of BoJ intervening on the FX market. However, there was no confirmation and the pair has recovered large part of losses already.

Source: xStation5

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