Home›Forex›Major Pairs›USD/JPY slides again as yen intervention chatter retur…

USD/JPY slides again as yen intervention chatter returns

USD/JPY fell nearly 1% within minutes, following earlier Bank of Japan $96 billion FX sales, as ING linked renewed pressure to upcoming mid-September Fed expectations.

Reported · Written up by our desk · Major Pairs

Japanese yen intervention speculation resurfaced after USD/JPY dropped nearly 1% within minutes and then slid again, according to an ING note carried by FXStreet.

ING said the renewed talk follows the Bank of Japan’s earlier $96 billion in FX sales in late July and early August, with traders previously questioning whether that move was a true intervention due to a lack of dislocation in electronic matching systems.

The note suggested authorities appear satisfied with the current price action, but it also argued that a likely Fed hike in mid-September should help support USD/JPY unless the Bank of Japan becomes more hawkish.

FXStreet also noted broader FX context around the move, including firmer expectations for a September Fed rate hike tied to a weak US ADP report and the impact of US-Iran tensions on sentiment.

Latest closeUSD/JPY 158.82 ▼0.9%

More like this

Sources