Japanese yen surge continues in European morning trade ...Middle East

The latest strategy from Japan is to intervene when there are factors working in their favour in nudging USD/JPY lower. They did it last week after key US data releases and there is a suggestion that they are back at it again today. The drop lower in the pair isn't quite a sharp one but the selling pressure has been quite forceful in the last two hours.And if Japan was looking for added support in intervening today, there are a few reasons.The first being a key break of the trendline support for USD/JPY this year. That might have triggered stops amid a quick flush lower in the pair earlier, when price fell to around 157.00.Then, there's also the fact that we are seeing equities have an off d

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Last updated : 17 July 2024 clock 12:08 PM

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Japanese yen surge continues in European morning trade ...Middle East

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