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Traders say a Japanese intervention before Friday's US PCE inflation data would be highly risky, since the data could quickly reverse any move. The yen was about 12% weaker against the dollar this year and close to the 160 level that triggered intervention in April and May.
The timing of possible intervention around the PCE data adds volatility to the yen and to dollar-priced import costs in Japan. A stronger-than-expected US inflation reading could push the yen toward 161 and beyond.
financialpost.comBloomberg NewsJun 26, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
