The Japanese Yen (JPY) strengthens to around 161.00 against the US Dollar (USD) on Thursday while the US markets are closed for a public holiday.
The Japan ese Yen is trying to claw back while US markets are closed. 30-year bond auction goes smoothly despite concerns about the end of bond buying. The US Dollar Index took a hit on easing US economic data and traders softer, just above 105.00 The Japan ese Yen strengthens to around 161.00 against the US Dollar on Thursday while the US markets are closed for a public holiday.
USD/JPY Technical Analysis: That might work as well The USD/JPY still has that sword of Damocles hanging over it, with that possible intervention from the Japanese Ministry of Finance. However, the research paper Bloomberg picked up from RBC might be an alternative approach. Should the Bank of Japan announce that it is hiking interest rates, while trimming or even completely closing down its bond buying program, markets would go cold-turkey on the double hawkish intervention.
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