USD/JPY-Commentary

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November 21, 2025

GBP, AUD, JPY flows: GBP dips briefly on retail sales, risk negative tone
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November 21, 2025 7:45 AM UTC

GBP dips briefly on weaker retail sales. Mild risk negative tone perissts. PMIs awaited

USD/JPY flows: CPI Supportive for a Hike?
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November 21, 2025 1:05 AM UTC

Japan November National Headline CPI 3.0%

November 20, 2025

USD flows: USD slightly softer after mixed employment report
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November 20, 2025 1:43 PM UTC

Employment report mixed despite stronger than expected rise in payrolls. Mild USD negative reaction seems unlikely to persist

JPY flows: No mercy for the JPY, intervention necessary
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November 20, 2025 7:48 AM UTC

New post-January highs for USD/JPY, new all time highs for EUR/JPY

USD/JPY flows: No mercy for the JPY
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November 20, 2025 2:12 AM UTC

BOJ’s Koeda signals need for further tightening as inflation holds near 2%

November 19, 2025

JPY flows: JPY hitting new lows after Katayama press conference
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November 19, 2025 10:01 AM UTC

Finance minister Katayama provides no comfort to JPY bulls

JPY flows: JPY hitting new lows ahead of Katayama press conference
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November 19, 2025 9:04 AM UTC

JPY still weak with Finance minister Katayama set to hold a press conference after a meeting with BoJ governor Ueda

USD/JPY flows: Conflict with China Persists
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November 19, 2025 5:25 AM UTC

China intends to renew a ban on Japanese seafood imports

November 18, 2025

JPY, AUD flows: JPY limited by verbal intervention, weak equities weigh on AUD
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November 18, 2025 8:15 AM UTC

JPY reverses early decline in increased verbal intervention, AUD under pressure as equities slide

USD/JPY flows: Escalated Jawboning
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November 18, 2025 4:20 AM UTC

Japan’s Finance Minister Katayama “alarmed” by recent FX moves 

November 17, 2025

JPY flows: Another new post February USD/JPY high
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November 17, 2025 2:22 PM UTC

USD/JPY breaking through 155. Risk of intervention rising

USD/JPY flows: Stimulus on its way
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November 17, 2025 1:29 AM UTC

Japan expected to unveil ¥17tn stimulus focused on cost relief and AI–chip investment

November 13, 2025

USD/JPY flows: Capped by 155
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November 13, 2025 5:28 AM UTC

Trump has signed the bill to reopen the U.S. government
BOJ Governor Ueda told parliament that underlying inflation is “gradually accelerating” toward the 2% target

November 12, 2025

JPY, GBP flows: JPY sells off again, GBP under pressure
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November 12, 2025 7:39 AM UTC

JPY sells off as equities firm, intervention threat increases. GBP downside risks on weak data and political uncertianty

USD/JPY flows: Hovering around monthly high
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November 12, 2025 1:11 AM UTC

USD/JPY elevated

November 10, 2025

NOK, JPY flows: NOK firmer after CPI, JPY weaker on hopes of end to US shutdown
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November 10, 2025 7:38 AM UTC

NOK rallies as CPI comes out strong in October. JPY weaker as risk rallies on hopes of end to US government shutdown

USD/JPY flows: PM Takaichi Looks Set to Spend
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November 10, 2025 2:38 AM UTC

Japan PM Takaichi says not ruling out a sales tax cut
Japan’s Takaichi abandons annual budget target, takes softer fiscal consolidation stance

November 07, 2025

EUR, JPY flows: USD lower after weak U Mich sentiment
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November 7, 2025 3:18 PM UTC

USD lower against European currencies post-Michigan senitment. JPY can play catch-up.

USD, EUR, JPY flows: Steadier picture overnight
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November 7, 2025 7:39 AM UTC

Stabilisation overnight after initial equity dip suggests mild corrective activity near term

USD/JPY flows: Household spending soft
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November 7, 2025 1:57 AM UTC

Japanese September household spending +1.8% y/y

November 06, 2025

USD/JPY flows: Wage growth remain below 2%
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November 6, 2025 3:34 AM UTC

The September total cash earnings rose 1.9% for Japan

November 05, 2025

USD, JPY flows: USD gains on strong ISM services
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November 5, 2025 3:18 PM UTC

ISM services gain strongly, JPY threatening recent lows

USD flows: USD slightly firmer after ADP
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November 5, 2025 1:35 PM UTC

German orders marginally firmer but trend softening. JPY reverses initial gains in Asia as equities bounce. GBP a focus as EUR/GBP makes new 2 year high

GBP, JPY, EUR flows: Little net change as equities bounce - GBP a focus
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November 5, 2025 7:54 AM UTC

German orders marginally firmer but trend softening. JPY reverses initial gains in Asia as equities bounce. GBP a focus as EUR/GBP makes new 2 year high

USD/JPY flows: JPY benefits from risk aversion
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November 5, 2025 1:11 AM UTC

BoJ Sept minutes says current real interest rates are very low, will hike if data indicates

November 04, 2025

GBP, JPY, EUR flows: JPY cross gains extend
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November 4, 2025 2:54 PM UTC

GBP/JPY filling the gap?

USD, JPY, EUR flows: JPY gains as equities correct lower
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November 4, 2025 7:51 AM UTC

Equity dip triggers JPY gains, AUD losses

November 03, 2025

CHF, JPY flows: CHF slips on CPI, JPY awaits equity turn
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November 3, 2025 7:41 AM UTC

CHF softer after CPI. JPY still undermined by equity strength

USD/JPY flows: USD starting the week higher
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November 3, 2025 1:51 AM UTC

Trump says U.S. will block China from getting Nvidia’s most advanced chips
Trump says not considering giving Ukraine Tomahawk missiles

October 31, 2025

USD, EUR, JPY flows: USD firm, JPY intervention risk increases
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October 31, 2025 7:59 AM UTC

USD firm helped by positive equity response to tech results. JPY gets brief support from Katayama comments. Little independent EUR movement after as expected German sales data

USD/JPY flows: Tokyo CPI Edges Higher
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October 31, 2025 1:20 AM UTC

Tokyo October Headline CPI 2.8% y/y

October 30, 2025

USD, EUR, JPY flows: Data mildly EUR positive
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October 30, 2025 9:41 AM UTC

European data helping the EUR hold its own against a stronger USD

USD, EUR, JPY flows: USD firm, JPY weak after Fed, BoJ decisions
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October 30, 2025 8:03 AM UTC

USD gains on less dovish Fed. JPY weak as Ueda still in no hurry. French data suggests EUR to get support from GDP

October 29, 2025

USD/JPY flows: Bessent jawboning
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October 29, 2025 5:53 AM UTC

U.S. Treasury Secretary Bessent posted on X praising Japan’s commitment to Bank of Japan independence and “policy space”

October 28, 2025

JPY flows: JPY firmer after Bessent/Katayama meeting
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October 28, 2025 7:43 AM UTC

JPY firmer as Bessent suggests need for tighter BoJ policy

USD/JPY flows: Trump-Takaichi meet
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October 28, 2025 1:45 AM UTC

Japan PM Takaichi: Want to realise a new golden age of Japan-US alliance with Trump

October 27, 2025

AUD, JPY, CHF flows: Risk positive tone, some JPY resilience
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October 27, 2025 7:43 AM UTC

Risk positive tone on talk of US/China deal, JPY gets some support from verbal intervention

USD/JPY flows: North bound
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October 27, 2025 2:44 AM UTC

Japan's Kihara says important that currencies move in stable manner, reflect fundamentals

October 24, 2025

USD flows: USD recovered after PMIs
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October 24, 2025 2:15 PM UTC

USD recovered post-CPI losses helped by strong PMI

USD flows: USD lower on CPI
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October 24, 2025 12:49 PM UTC

USD generally lower, AUD outperforming

USD/JPY flows: Regaining traction
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October 24, 2025 12:53 AM UTC

Japan September headline inflation 2.9% y/y

October 23, 2025

JPY flows: JPY hits new low for the week, policy unclear
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October 23, 2025 6:52 AM UTC

Market may see new government as being happy with JPY weakness, but policy may be better supported by a stronger JPY

USD/JPY flows: Regaining traction
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October 23, 2025 2:16 AM UTC

Weekly high for USD/JPY

October 22, 2025

USD/JPY flows: Import surprise to the upside
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October 22, 2025 12:56 AM UTC

The September Japan trade balance missed estimate on stronger import

October 21, 2025

JPY flows: JPY weaker on Takaichi appointment
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October 21, 2025 6:57 AM UTC

JPY weaker on Takaichi PM appointment, but short JPY positioning is risky.

USD/JPY flows: Takaichi in Action
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October 21, 2025 3:26 AM UTC

The new Japan PM Takaichi has begun naming her cabinet

October 20, 2025

USD, JPY flows: Steady to mild risk positive tone
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October 20, 2025 6:45 AM UTC

Mildly more risk positive picture, but uncertainty remains. Likely Takaichi PM appointment offset by some BoJ hawkishness

USD/JPY flows: Takaichi Back?
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October 20, 2025 1:16 AM UTC

The LDP and Japan Innovation Party have reached a broad agreement to form a coalition government

October 17, 2025

USD, JPY, CHF flows: USD lower versus safe havens on risk negative trade
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October 17, 2025 7:01 AM UTC

US banking concerns trigger USD declines, especially against safe havens. JPY has scope for further gains.

USD/JPY flows: More political turbulence
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October 17, 2025 4:30 AM UTC

Japan LDP, opposition CDP, agree to hold vote to decide next prime minister on Oct 21