As policies diverge between a fierce US Fed and a lenient BoJ, the Yen faces even more headwinds and risks tipping to 155 on the greenback falling to a record 33-year low.
Boomeranged on Wed, 4 Oct 2023 12:49
JPY dropped past ¥150/USD yday before rebounding sharply. The speed prompted uncertainty as to whether authorities had intervened.
Traders said that Tuesday’s sharp moves were likely to have been caused by the expiry of currency options at the ¥150 level.
Source: FT
More at https://www.ft.com/content/9d405ea2-0421-42de-a058-7f74a3705935
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