Yesterday the reasonably unremarkable news that Kato had met with Bessent kicked the legs out from under the yen for an hour or so, As I said in the wrap:
But, that’s all it took for USD/JPY to race from around 143.60 to highs above 144.30 in just a few minutes. Admittedly, it was at a low-liquidity part of the 24 hours FX cycle (just prior to 8am Sydney time (10am New Zealand, 7 am Tokyo, 6am Singapore and Hong Kong, 6pm US Eastern time, 12am/11 pm Frankfurt/London).Forexlive Americas FX news wrap: Yields reverse lower, bitcoin hits record near $112K
Eyes on CPI data from Japan due today for the next (known!) catalyst:
This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
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