TODAY'S MARKET INTELLIGENCE
USD/JPY Falls Above 157 as Market Focus Shifts to Growth Concerns and Short Covering Pressure
English summary
On Oct 22, USD/JPY fluctuated above 157. Despite hot US inflation data, falling Treasury yields indicate a shift in focus to growth prospects. Dollar longs are unwinding; weak PMI data tomorrow could intensify yen safe-haven buying and dollar downside pressure. The BOJ is expected to hike in December, but short-term FX moves are driven by risk sentiment.
The English text is machine translated and may require verification against the Chinese version.
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