Japanese Yen: Near intervention levels as Dollar climbs – Deutsche Bank

FXStreet Insights Team FXStreet

Deutsche Bank’s report highlights that the Japanese Yen has weakened to a post‑2024 low against the Dollar, though its decline was smaller than other G10 currencies. The bank notes that restrained moves reflect proximity to levels that previously triggered FX intervention, with markets watching for potential official responses as US yields and the Dollar remain elevated.

Yen hovers near prior intervention zone

"In other corners of the market, the Japanese yen is largely unchanged, after falling -0.14% yesterday to a post-2024 low of 160.65 against the dollar."

"However, that decline was smaller than for other G10 currencies, with the restrained moves coming as the yen reached levels that triggered FX intervention back in late April."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

160.80: Japanese Yen remains close to nearly two-year lows

USD/JPY inches lower after four days of gains, trading around 160.60 during the Asian hours. The USD/JPY pair surged to 160.80 the previous day, marking its highest level since July 2024 and significantly heightening speculation that Japanese authorities could soon intervene to support the struggling Yen.

AUD/USD eyes 0.7050 on weaker USD; 100-day SMA holds the key for bulls

The AUD/USD pair regains positive traction during the Asian session, reversing part of the previous day's slide to sub-0.7000 levels, or the weekly low. Spot prices currently trade around the 0.7040 region, up nearly 0.40% for the day, amid a broadly weaker US Dollar.

Gold stays firm near $4,300 as Iran peace deal offsets hawkish Fed

Gold clings to its modest intraday gains in the European session on Thursday and hangs close to the $4,300 mark amid a broadly weaker US Dollar (USD). The optimism over a US-Iran peace deal prompts USD profit-taking and supports the bullion. The Fed’s hawkish tilt could limit USD losses, capping the commodity.

Bitcoin slips below $64,000 as hawkish Fed stance weighs on risk appetite

Bitcoin remains under pressure, extending its correction, trading below $64,000. The US Federal Reserve left interest rates unchanged but struck a hawkish tone on Wednesday, dampening the risk sentiment.

Bank Indonesia increases rates by 25 basis points in June: Will it defend the Rupiah?

Bank Indonesia decided to hike the benchmark interest rate by 25 basis points to 5.75% on June 18, from the previous 5.5%. The decision aligned with the market expectations. The Indonesian Rupiah receives support against the US Dollar as an immediate reaction to the BI interest rate decision. The USD/IDR is trading around 17,820.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.