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JPY failed to get the ‘risk on’ message with JPY dipping into the USD113s. Markets, while fearful of ‘intervention’, clearly expect JPY strength.
USD fell to the lowest against JPY since November 2014 as investors rushed to safe-haven Japanese currency, withdrawing from earlier optimism that the Fed would continue to raise interest rates.
The Yen has dropped 6.71 percent month-to-date. Markets await the US Retail Sales data due tomorrow. Japan’s producers prices plunged 3.1% YOY in Jan (Dec: rev…
USD fell to the lowest against JPY since November 2014 as investors rushed to safe-haven Japanese currency, withdrawing from earlier optimism that the Fed would continue to raise interest rates.
The Yen has dropped 6.71 percent month-to-date. Markets await the US Retail Sales data due tomorrow. Japan’s producers prices plunged 3.1% YOY in Jan (Dec: rev…