The post Japanese Yen set to close at current levels with Japan passing on intervention risk into next week appeared on BitcoinEthereumNews.com.

The Japanese Yen started Friday with a fresh multi-decade low print. Some quick profit taking is happening ahead of the US session and before the weekend.  The US Dollar Index hovers around 106.00 again ahead of PCE inflation release.  The Japanese Yen (JPY) sees traders taunting the Japanese government yet again, with another new historic low printed in the Yen’s performance. This Friday 161.27 was briefly hit before falling back to below 161.00. The move comes with Japanese Finance Minister Shun’ichi Suzuki repeated the same message  from Thursday that the Japanese cabinet is “watching the FX moves with a high sense of urgency”, which now has lost its impact and sees markets defying the Ministry in order to take action.  Meanwhile, the US Dollar Index (DXY) – which gauges the value of the US Dollar against a basket of six foreign currencies – is of course in positive territory on the back of this action. Even if US data on Thursday did not allow the US Dollar to outperform, with Durable Goods flatlining and Pending Home Sales shrinking again for a second month in a row. The Personal Consumption Expenditures numbers falling in line, and in their disinflationary trajectory and are not creating any big waves.  Daily digest market movers: Nothing done At 02:30 GMT, Japanese Finance Minister Shun’ichi Suzuki commented he is watching FX moves with a high sense of urgency. Though this time the impact resulted in a pickup in devaluation for the Japanese Yen. Markets expected to see action this Friday, not more words and same messages.  At 12:30 GMT, the Personal Consumption Expenditures (PCE) for May got released: Headline PCE eased from 0.3% to 0.0%. Core PCE faded a touch from 0.2% to 0.1%. At 13:45 GMT, Chicago Purchase Managers Index jumped higher, to 47.4, coming from 35.4.…

---

Filed under: News - @ June 28, 2024 8:12 pm