Published: 2024-04-30T04:48:45.000Z
USD/JPY flows: Relatively quiet
FX Analyst
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USD/JPY relatively quiet on Tuesday after Monday's intervention
While there has been no confirmation of intervention from Kanda, his words "We are ready 24 hours, so whether it's London, New York or Wellington, it doesn't make a difference." and price action seems to suggest they have intervened. USD/JPY is relatively quiet compared to Monday's volatility. Very unlikely the Japanese authorities would intervene again at 160 but in a short run it will be a psychological line in the sand for market participants.
USD/JPY is slowly grinding upwards and is trading 0.3% higher at 156.78 after touching 157 figure earlier in the session.