In the latest development in the currency market, the experienced a dip from 151.70 to under 151.20 following hinted intervention by Japanese officials. Officials Kanda, Suzuki, and Matsuno expressed their concern against “one-sided,” “speculative,” and “disorderly” movements, which led to this shift. Following this, the AUD and NZD rebounded after initial depreciation against the USD.
Share: Fed Chairman Jerome Powell will speak before the Economic Club of New York. Powell’s comments on monetary policy and interest rate path will be scrutinized by markets. The US Dollar could show significant reaction to Powell’s speech before the Fed’s blackout period begins on Saturday. Jerome Powell, Chairman of the Federal Reserve
Share: GBP/JPY sells-off on BoJ sentiment ahead of Friday’s meeting. GBP/JPY drops into a potentially strong area of support in the 177.70/90s as per the hourly structure. Bears also eye the Point of Control near 177.00 and then a swing support area at 176.50. GBP/JPY collapses on a strong hint from Nikkei news
