Japan reportedly intervened in forex market, according to TV Asahi citing sources
- "According to a government official, the government and the Bank of Japan intervened in the foreign exchange market, causing the dollar to drop from the 161 yen range to the 157 yen range. [2024/07/11 22:38] "
Analysis details (14:56)
Following the US CPI data:
- USD/JPY fell from 161.51 to 160.85 in an immediate move after the softer US CPI metrics, then treaded water for around 10 minutes before aggressively extending lower to 158.49 (some at the time speculated intervention).
- EUR/JPY was little moved by US CPI but 10 mins later slipped from 175.02 to lows of 172.61.
- GBP/JPY tumbled from 207.82 to a low of 205.05.
11 Jul 2024 - 14:55- ForexData- Source: Newswires
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