Another session of wide swings for yen crosses

August 20, 2024
-FCHFX

August 20, 2024 at 03:37AM
USD/JPY traded to early highs around 146.85 before dumping to 145.85 lows.

There hasn’t been fresh news nor data from Japan, yen crosses don’t need any of that to persist in volatility.

USD/JPY is back on approach to its earlier highs as I update.

The background to all this the Bank of Japan eyeing further rate increases while the Federal Reserve eyes cuts. Tming is the question, especially for the BOJ. I have heard Bank of Japan Governor Ueda is to give testimony in the Diet on Friday. I assumed (yeah, I know, don’t do that) he’d be at Jackson Hole.

This article was written by Eamonn Sheridan at www.forexlive.com.

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