USD/JPY Drops on Intervention Talk, US Stock Indices Hit Records
The yen surged against the dollar last Thursday amid speculation of US intervention, while major US equity benchmarks reached fresh all-time highs.
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USD/JPY fell sharply last Thursday, with the yen strengthening on market chatter about possible US intervention. The move followed the prior note and reignited debate about whether the dip is a buying opportunity.
Meanwhile, US equity indices posted record highs. The S&P 500 and Dow hit new peaks, while the Nasdaq remained below its recent top, prompting speculation on whether the tech-heavy index will catch up.
Source: FXStreet Forex News