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USD/JPY drops after Fed fallout, BOE keeps rates steady
The BOE left its bank rate unchanged at 3.75%, while USD/JPY moved from 163.30 to 162.28 before rebounding toward 163.00.
Markets digested the latest Federal Reserve signals, with the US dollar giving back gains and USD/JPY slipping sharply in a fast move. According to Forexlive, the pair dropped from 163.30 to 162.28, then rebounded to settle closer to 163.00, even as the dollar stayed below earlier levels after the session.
The backdrop also included pressure in the bond market, with 10-year Treasury yields briefly touching 4.71% before settling around 4.68%. Forexlive said that level remains a key reference point because continued selling could have broader spillovers.
In Europe, the Bank of England kept its bank rate unchanged at 3.75% in its July decision, while maintaining openness to future rate hikes without signaling an imminent move. Forexlive also cited euro area data suggesting resilience in second quarter growth conditions.
Elsewhere in markets, oil prices were slightly lower, with WTI crude down 1.0% to $83.58, and European equities finished higher with the DAX up 0.2% and CAC 40 up 1.0%. Forexlive noted gold rose 0.3% to $4,078 and silver gained 0.7% to $58.07.
Latest closeGold $4,134.80 ▲2.4%|Silver $58.41 ▲1.9%|WTI crude $84.41 ▲6.5%