Intervention whispers lift EUR as dollar wobbles amid USD/JPY pressure
TL;DR
Suspected USD/JPY intervention—possibly involving the US—has contributed to roughly a 3.5% drop in the dollar since Friday, lifting EUR/USD through 1.18 and pushing USD/CHF lower. The move isn’t seen as fundamentally driven, but the dollar risk premium could stay elevated ahead of this week’s FOMC meeting. Key levels to watch include DXY with a resistance at 97.42 and support near 96.20–96.35, while USD/JPY faces intraday resistance around 155.65. Regional central-bank moves toward rate cuts are supporting euro strength, with traders eyeing earnings and macro data for signs of sustenance.)
- FX Daily: Suspected USD/JPY intervention adds to weak dollar moment ING THINK economic and financial analysis | ING THINK
- An unusual Fed ‘rate check’ triggered a free fall in the U.S. dollar and investors are fleeing into gold Fortune
- When Yenterventions work Financial Times
- Dollar Pressure Mounts as Traders Reopen Debasement Debate Yahoo Finance
- Yen Rises as Warning From Takaichi Raises Intervention Risk Bloomberg.com
Want the full story? Read the original reporting
Read on ING THINK economic and financial analysis | ING THINK