The USD/JPY into the low end heading into Wednesday's market session after an assumed Bank of Japan (BoJ) intervention on Tuesday saw the pair tumble
Market intervention on the Yen remains a rumor until official confirmation from Japan sources.The USD/JPY into the low end heading into Wednesday's market session after an assumed Bank of Japan intervention on Tuesday saw the pair tumble nearly 2% from the day's peak just over the 150.00 major handle.
Traders will be looking ahead to Wednesday's US Services Purchasing Manager Index , which is expected to tick down slightly from 54.5 to 53.6.is notably thin for the Japanese side, and the data docket is free for USD/JPY to jostle into position heading into another US Rising US Treasury yields on a lack of government confidence and ongoing fears of a potential global economic slowdown sees the US Dollar in a firm position, and any declines in theintervention, the USD/JPY remains in a notably bullish position, with market prices not far from yearly highs, and a bounce back above 150.00 will see the pair trading into its highest prices in decades.remaining well-buoyed by the 34-day Exponential Moving Average near 147.
EUR/USD dropped to a fresh low for the year, reaching a level close to 1.0450 on Tuesday. It then experienced a slight rebound, but recovery momentum faded around 1.0480. The US Dollar continues to be supported by positive US economic data, higher yields, and a risk-averse market sentiment.GBP/USD reached a bottom at 1.2053 on Tuesday, marking the lowest level since March. However, it later trimmed its losses and rebounded to 1.2100.
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