Japanese officials recently intervened in the foreign exchange market as the USD/JPY exchange rate approached the 160 level. However, this time the upward movement has been more gradual and less volatile, prompting no action from Japanese officials.
The USD/JPY pair is currently trading above 157.00 and has rebounded strongly off the 50-day SMA in early May. The issue of yen weakness is likely to persist due to the significant interest rate differential between the United States and Japan, supporting the carry trade.
The USD/JPY pair is currently trading above 157.00 and has rebounded strongly off the 50-day SMA in early May. The issue of yen weakness is likely to persist due to the significant interest rate differential between the United States and Japan, supporting the carry trade.
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