Forex Today: Yen rallies on BoJ verbal intervention, but US dollar bulls perked-up – by fx_ross USDJPY DollarIndex BitcoinGold Oil Currencies
The US dollar that fell to a low of 109.257 did not stay down there for long on Wednesday and the index rallied back to test the 109.70s in New York. Technically, the index is on course for the 109.90s again ahead of what is expected to be a hawkish Federal Reserve outcome next week.
There have been no Federal Reserve speakers this week as the media blackout went into effect at midnight Friday ahead of Chair Jerome Powell’s post-decision press conference on September 21. At the same time, Japanese Finance Minister Shunichi Suzuki told reporters on Wednesday that recent yen moves have been "rapid and one-sided", adding that yen-buying currency intervention was among the government's options should such moves continue. USD/JPY dropped from a high of 144.96 to a low of 142.55.
New Zealand’s second quarter Gross Domestic Product data are out today. ''We’ve pencilled in a 0.4% quarter-on-quarter expansion, but given dataand mixed signals going in, a read plus or minus 1 percentage point of our pick would not surprise,'' analysts at ANZ Bank said. In crypto, volatility struck as traders positioned in preparation for Ethereum's transition to Proof-of-Stake. Bitcoin andfell to a low of $1,693.78 from a high of $1,707.07 while WTI came up for air, printing a high of $90.17.
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