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Dollar tumbled sharply in early US session following lower-than-expected consumer inflation readings. Headline CPI showed its first month-over-month decline since early 2023, while core CPI annual rate unexpectedly slowed to its lowest level since April 2021. Now, a September Fed rate cut is becoming a realistic possibility. Fed fund futures are quick to react and […]

The post Fed Sep Cut Now Realistic after US CPI; Japan Intervenes to Boost Yen? appeared first on Action Forex.

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Dollar Mixed with Inflation Data on Deck; Sterling Maintains Lead

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Yen’s Sharp Rally Pauses, Japan Declines to Confirm Intervention

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Yen Rebounds Vigorously Post-160 Breach as Traders Take Profits
29/04/2024

Yen Rebounds Vigorously Post-160 Breach as Traders Take Profits

Japanese Yen mounted a strong comeback in Asian session today after initial dip through 160 psychological support against Dollar. While the moves are exaggerated by today’s thin trading volumes due to public holiday in Japan, the strong rebound is marked by widespread squaring of short positions. Traders are clearly on guard against intervention by Japanese […]
Verbal Intervention Heighten as Yen Stumbles, Kiwi Falls on Bleak Economic Projections
27/03/2024

Verbal Intervention Heighten as Yen Stumbles, Kiwi Falls on Bleak Economic Projections

Japanese Yen breached its recent low against the broadly strong Dollar in Asian session today, but the selloff halted just before reaching 152 mark. The momentum of Yen’s decline appears to be cushioned by Japan’s heightened verbal intervention. Finance Minister Shunichi Suzuki issued a stern warning about Yen’s depreciation, warning of “decisive steps” to support […]
Yen Hits 37-Year Low Against Dollar, Japan to Intervene or Not?
26/06/2024

Yen Hits 37-Year Low Against Dollar, Japan to Intervene or Not?

Yen is drawing significant attention again today as it plummeted past the crucial 160 mark against Dollar, and hit its lowest level in over 37 years. Market participants are vigilantly watching for any signs of intervention from Japanese authorities, yet no action has been taken so far. It should be emphasized again that the tone […]