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USD/JPY swings again after suspected second yen intervention

The dollar moved sharply after the pair briefly fell during the session, with USD/JPY rebounding to around 160.05 and ending the move about 0.3% higher, while EUR/USD fell and USD/CHF rose.

Reported · Written up by our desk · Major Pairs

European markets leaned modestly higher as tech strength helped lift broader risk sentiment, with DAX up 0.7% and CAC 40 up 0.9%, while US equity futures also gained. S&P 500 futures were up 0.5% and Nasdaq futures up 1.3%, according to Forexlive.

In currency trading, markets saw another burst of Japanese yen volatility tied to a suspected second round of intervention. USD/JPY recovered from a prior drop, settling above 160.00 before dropping quickly to 158.55, then later rebounded by 0.3% to about 160.05.

Other major FX pairs were mixed. EUR/USD fell 0.3% to 1.1495, while USD/CHF rose 0.5% to 0.8095.

Macro factors included a euro area inflation print for July that came in a bit hotter than expected, keeping the European Central Bank on alert ahead of a potential rate hike in September, Forexlive said. Oil was slightly higher with WTI up 0.7% to $84.20, while 10-year Treasury yields edged up nearly 2 basis points to 4.68%, and gold fell 1.1% to $4,057.

Latest closeGold $4,157.80 ▲0.4%|WTI crude $91.10 ▲3.2%|S&P 500 7,765.36 ▼0.5%

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