U.S. CPI under expectations for three consecutive months, reports of yen-buying interventions, etc., causing a plunge in USD/JPY.
【7/11Market Overview
Tokyo time, the USD/JPY remains firm on the back of gains in the Nikkei. In European hours, it stays firm ahead of the USCPI(Consumer Price Index) data. time,,6CPI was weaker than expectations, sending US Treasuries yields down and USD/JPY falling sharply. Amid reports citing government sources that “the government and the Bank of Japan conducted foreign exchange intervention,” the pair briefly157.41157.41 yen reached.
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