Japanese Yen boosted by joint intervention, Rabobank says
Japanese authorities capitalized on the dollar’s decline after the FOMC meeting, making intervention more effective, according to Rabobank’s Jane Foley.
USDJPY
The Japanese yen strengthened against the US dollar, helped by coordinated intervention and a weaker greenback following the Federal Reserve’s latest policy decision.
Rabobank senior FX strategist Jane Foley noted that authorities benefited from the post-FOMC dollar drop, which reduced pressure on the yen and made intervention more impactful.
Source: FXStreet Forex News