Forex
If USD/JPY moves back above 157 there is risk of further intervention, said analysts at ING.
"USD/JPY has stabilised around 156/157, which is in line with the price action dynamics after FX intervention on 22 September 2022 (as noted yesterday). If we continue to follow the September 2022 script, then USD/JPY should grind higher in the coming days. This time, USD/JPY appreciation would not just be consistent with yield differentials, but can also be triggered by a more... (continue reading...)
Investing.com-- Most Asian currencies fell on Tuesday as anticipation of a Federal Reserve meeting this week kept traders largely biased towards the dollar, with the Japanese yen falling slightly after rebounding amid suspected government intervention.
Most regional currencies were nursing losses through April as traders steadily priced out expectations of early interest rate cuts by the Fed. A series of hotter-than-expected U.S. inflation readings drove this... (continue reading...)
By Chuck Mikolajczak
NEW YORK (Reuters) -The yen fell against the dollar on Tuesday, giving back a chunk of its sharp gains in the prior session sparked by suspected intervention by Japanese authorities, while U.S. economic data on employment costs boosted the dollar.
The yen weakened 0.88% against the greenback at 157.73 per dollar, but was still off its 34-year low of 160.245 hit on Monday when traders say yen-buying intervention by Tokyo... (continue reading...)
FRANKFURT (Reuters) - Euro zone inflation is falling towards 2% and geopolitical stress poses only moderate risks but the European Central Bank should still exercise caution in cutting interest rates beyond a first step in June, Dutch policymaker Klaas Knot told Nikkei.
The ECB has all but promised a rate cut for June 6 and policymakers are now debating how to proceed in subsequent months after oil prices rose and unexpectedly high inflation readings... (continue reading...)
Friday's jobs report may be more important than the Fed meeting for dollar, said analysts at ING.
"The dollar ultimately reconnected with higher yields on Friday, but a market now exploring the narrative of no easing by the Federal Reserve in 2024 should keep the door open for more dollar strength. This is a big week for FX. The Fed announces policy on Wednesday, there are some key US data releases (including payrolls on Friday), and we may have finally seen FX... (continue reading...)
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