The Japanese yen continues to weaken amid lack of policy tightening from the Bank of Japan. USDJPY jumped above 150.00 today for the first time since 1990, reaching a fresh 32-year low. The pair traded only briefly above this hurdle as a quick reversal occurred after the break. So far, it is unclear whether a pullback was triggered by profit taking or by Ministry of Finance/Bank of Japan intervention. Japanese authorities make verbal interventions on a daily basis but those no longer move JPY. Nevertheless, a direct intervention looks more and more likely.
USDJPY jumped above 150.00 for the first time since 1990 but a quick reversal occurred later on. Source: xStation5
Chart of the Day 🚩 Speculations Around Faster Rate Hikes in Japan — Could USDJPY Reverse Its Trend?
Economic Calendar 🗽 U.S. Retail Sales and UoM Data in Focus
BREAKING: Another round of inflation figures from the US – what did they reveal?
Chart of the day: GBPUSD down on slower UK GDP growth! Unbreakable sideways trend?