Published: 2024-03-27T04:55:01.000Z
USD/JPY flows: Reached decades high before retreating
FX Analyst
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USD/JPY reached level last seen in 1990
Japan finance minister Suzuki won't rule out any steps in response to disorderly FX moves
USD/JPY reached 151.97 earlier in the session on Wednesday. It is a level last seen in 1990s and sparked further verbal escalation from Suzuki, twice in the same session. It seems to suggest any further spike maybe met with intervention and see a modest retreat from the session top as U.S. Treasury Yields perform individually while 10yr JGB yield slips.
After reaching 151.97, USD/JPY retreated to 151.64 currently to be 0.06% higher for the session.