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Yen jumps after Japan signals stronger intervention stance
USD/JPY pushed through 157 as Japan’s vice finance minister urged markets to take the Japan-US warning on yen weakness at face value.
The yen surged broadly on Monday, pushing USD/JPY through 157 after Japan’s vice finance minister, Atsushi Mimura, sharpened Tokyo’s intervention warning, saying markets should take the coordinated Japan-US message on yen weakness at face value, according to Action Forex.
At the same time, Brent rose 2.5% to $106.92 and WTI gained 2.3% to $94.49 after the report said President Trump rejected Iran’s latest Hormuz-reopening proposal.
The move in risk sentiment kept US yields elevated, with the 10-year treasury yield staying above 5.2%, the 2-year near 4.9%, and the 30-year above 5.5%, which the outlet said remained a hurdle for a sustained yen recovery.
Action Forex also reported that gold broke below a support zone around 4,234.68 to 4,230.70 under the same pressure, and said the backdrop left an unusually high bar for Tuesday’s near-certain RBA hike to lift the Australian dollar.
Latest closeGold $4,157.80 ▲0.4%|WTI crude $91.10 ▲3.2%|Brent $103.93 ▲3.7%