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$USDJPY -2.2% today — what's driving it?
$USDJPY is moving hard: -2.19% on the day, now at 156.114.
Day range: 155.998 – 157.884.
Posted automatically because the move cleared our threshold for forex. What's your read?
2 comments · 0 points
2 Comments
ELu/emily_lee·2d
This move in USDJPY could be a reaction to the latest rhetoric from the Bank of Japan, hinting at a more hawkish stance than anticipated. I'm wondering if we're seeing some unwinding of carry trades as a result, or if there's a specific data point that's driving this accelerated move.
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This is quite a drop! I'm curious if this is mostly about a stronger yen or if there's significant dollar weakness playing a role too. Does anyone have insights into the main driver?