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USD/JPY Forecast: The US Labor Market and the Fed in Focus Amid Intervention Hype
The USD/JPY rallied 1.75% on Tuesday. Reversing a 0.36% fall from Monday, the USD/JPY ended the session at 151.666. The USD/JPY fell to a low of 149 001 before striking a high of 151.723. Intervention Threats to Test the USD/JPY at 151 On Wednesday, finalized private sector PMIs for October drew investor interest. The Jibun Bank Manufacturing PMI increased from 48.5 to 48.7 vs. a prelim 48.5. However, the upward revision had a limited impact on the Yen despite the continued contraction. Market speculation of an intervention to bolster the Yen pressured the USD/JPY. The Bank of Japan-induced slide to 151 caused a stir ... (full story)