-
USD/JPY back below 150, Gold bugs reclaim $2000: Asian Open – 30/10/2023
Safe-haven demand for the Japanese yen saw USD/JPY trade below 150 on Friday and form a bearish engulfing candle. This follows on from a single day above 150 – a level considered by many as a threshold for BOJ intervention. However, it does not appear that the rise through 150 was volatile enough to warrant any BOJ action, and market forces have done the work for the central bank. All eyes are now on tomorrow’s BOJ meeting where weekend reports from the Nikkei newspaper suggest they are due to discuss their YCC policy, which leaves the potential for a live meeting and a lower USD/JPY is the central bank allows ... (full story)