USD/JPY Reversal Triggers Response from Japanese Authorities
Wednesday, 27 March 2024, 11:40
Forex Market Highlights
The session witnessed the Japanese yen tumbling in Asia to its lowest against the dollar since 1990, with USD/JPY hitting 151.97 before settling around 151.60-70. Subsequent statements by Japanese authorities had little impact, leading to verbal intervention and a sudden meeting among officials.
Major Updates:
- Japanese officials discuss financial market concerns
- Statements from key figures like Japanese finance minister and BOJ governors
- Market reaction: JPY leads, equities higher, US 10-year yields down, gold and Bitcoin up
Despite the uncertainty, USD/JPY edged lower amid cautious sentiment and impending decisions from Tokyo as markets awaited further developments.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.