Oddbean

Yen's volatility sparks intervention suspicion after U.S. CPI data ========== The yen surged against the dollar after the release of softer-than-expected U.S. inflation data, leading to speculation that the Japanese government and the Bank of Japan intervened to support the weak yen. The yen strengthened to 157.41 after the June U.S. consumer price index showed a 0.1% decline from the previous month, the first monthly drop since May 2020. The yen was trading around 159.30 at the time of writing. Japanese currency officials have not commented on whether they intervened. The Nikkei average fell over 1,000 points, partly due to the surge in the yen. #Yen #Volatility #Intervention #UsCpiData #JapaneseGovernment #BankOfJapan #NikkeiAverage https://asia.nikkei.com/Business/Markets/Currencies/Yen-s-volatility-sparks-intervention-suspicion-after-U.S.-CPI-data