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USDJPY Off Lows As Dollar Rallies, Yen Stronger On Crosses

JPY

USDJPY fell this morning following vice finance minister Kanda’s comments that FX moves are being watched with a “high sense of urgency” and that the government will intervene if the moves are “excessive”. USDJPY reached a low of 143.73 earlier and has been trending higher since as the dollar strengthened but remains below 144 and is now around 143.97. The USD index is 0.2% higher.

  • EURJPY has moved lower during APAC trading after reaching a multi-year high on Tuesday. It made a low of 157.44 earlier and is down 0.2% to 157.56. AUDJPY is 0.8% lower driven by the MoF comments and weaker Australian inflation. It is off the intraday low of 95.16 at 95.56.
  • Equity markets in the region are mixed with the Nikkei up 0.7% but the CSI 300 down 0.9%. The S&P e-mini is 0.25% lower.
  • Later today BoJ’s Ueda speaks at the ECB’s conference in Sintra at 1430 BST.

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