USD flows: USD slips lower on higher initial claims

May 9, 2024 1:04 PM UTC

Initial claims highest since August, USD lower with yields

JPY flows: JPY still soft despite hawkish BoJ

May 9, 2024 6:35 AM UTC

Boj sounded hawkish, but JPY softer as cash earnings disappoint. 

EUR, JPY, SEK flows: Firm USD tone hard to justify, SEK in focus

May 8, 2024 6:52 AM UTC

USD firm overnight without an obvious rationale. German production data EUR positive. JPY softening but BoJ risks rising. Riksbank meeting in focus.

USD/JPY flows: Up three in a row

May 8, 2024 5:00 AM UTC

USD/JPY up three days in a row
Drew verbal intervention from Japanese finance minister

EUR, JPY flows: EUR edges lower, JPY decline overdone

May 7, 2024 6:51 AM UTC

Slight EUR weakness after German orders data unlikely to extend far. JPY decline this week looks overdone

USD/JPY flows: Grinding higher

May 7, 2024 3:57 AM UTC

Japan chief cabinet secretary Hayashi has no comment on currency intervention
Japan's Kanda says no comment on Yellen's comments on FX

USD/JPY Flows: JPY Consolidation with Mixed Views

May 6, 2024 2:06 PM UTC

JPY has stablised in U.S. trading, with near-term views in the market mixed. 

GBP/USD Flows: GBP bounce but BOE Risks Still on Thursday

May 6, 2024 9:05 AM UTC

GBP has pushed higher on short-covering, but the BOE meeting could have dovish hints still on Thursday. 

EUR/USD Flows: Sideways but Policy and Ukraine in Focus

May 6, 2024 7:17 AM UTC

Quiet conditions with the UK closed, but some focus on Fed and ECB prospects. 

USD/JPY flows: Up a Figure on another Japanese holiday

May 6, 2024 4:12 AM UTC

USD/JPY up a figure 

USD flows: USD knocked lower by weaker US employment report

May 3, 2024 12:48 PM UTC

US emplyoment report only modestly weaker than expected, but weaker in all categories, JPY benefiting the most, but scope for USD losses elsewhere as well.

JPY, NOK flows: USD/JPY under pressure, NOK has scope to recover

May 3, 2024 6:48 AM UTC

BoJ squeezing out JPY shorts. Norges Bank could provide NOK support

USD, JPY flows: USD/JPY dips in early US

May 2, 2024 1:09 PM UTC

USD falls back with US yields with BoJ amplifying JPY strength

USD flows: USD softer after FOMC and BoJ raid

May 2, 2024 6:50 AM UTC

USD falls back with US yields with BoJ amplifying JPY strength

USD flows: USD edges lower after softish ISM

May 1, 2024 2:23 PM UTC

Softer ISM follows similarly soft S&P PMI but focus still on FOMC

USD flows: USD firms slightly after ADP but focus on ISM and FOMC

May 1, 2024 12:24 PM UTC

Marginally stronger than expected ADP employment won't change expectations for Friday's employment report. More scope for movement on ISM, but in practice a fairly steady market likely before the FOMC.

USD flows: USD firm but risks to the downside

May 1, 2024 7:03 AM UTC

USD gains since the employment cost index put it at levels that look vulnerable

USD/JPY flows: Slowly grinding higher

May 1, 2024 5:48 AM UTC

USD/JPY quiet but upwards

JPY flows: BoJ intervention triggers sharp reversal

April 29, 2024 6:51 AM UTC

Reported BoJ intervention has triggered a 5 figure drop in USD/JPY in late Asia trade. The upside now looks capped near term, and there is scope for a huge decline, but lower US yields look necessary to trigger it.

USD/JPY flows: BoJ Back in the office

April 29, 2024 4:52 AM UTC

USD/JPY slumped from 159.60 to 155.9 currently
Looks like intervention

USD flows: Mild relief after PCE

April 26, 2024 1:10 PM UTC

Not much FX reaction to PCE data

JPY flows: Sharp JPY rally might be intervention

April 26, 2024 8:37 AM UTC

USD/JPY fell 170 pips in a few minutes, suggesting potential intervention, but this is unconfirmed. If this is intervention more is likely to be required if JPY weakness is to be stopped, but some stability may now be seen until the US opens.

JPY flows: New JPY lows after BoJ meeting

April 26, 2024 6:52 AM UTC

There was no indication of further imminent tightening from the BoJ, and this led to new JPY lows. But US yields continue to be the main driver of JPY weakness, and overnight JPY decline may consequently be overdone

USD/JPY flows:No change in rates but revised CPI higher

April 26, 2024 4:02 AM UTC

The BoJ decided to keep rate at 0-0.1%. 
2024 ex fresh food CPI is revised to 2.8% from 2.4%, 2025 from 1.8% to 1.9%
Tokyo CPI lower 

USD flows: USD up slightly after GDP

April 25, 2024 12:52 PM UTC

Market focusing on higher PCE deflator and solid domestic growth so US yields and the USD modestly higher

JPY flows: JPY weakness intensifies, intervention possible, but...

April 25, 2024 7:07 AM UTC

JPY weakness intensified overnight and increased the potential for intervention. This may be seen in the next few days, and the JPY does have potential to rally sharply given the huge real decline in recent years. But a turn higher in risk premia looks necessary to trigger a long term reversal of cu

USD flows: USD down after weaker S&P PMIs

April 23, 2024 2:09 PM UTC

USD lower as S&P PMIs dip unexpectedly

USD, EUR, JPY, AUD, CAD flows: PMIs awaited, AUD and CAD rallies look fragile

April 23, 2024 6:44 AM UTC

PMIs awaited with mild downside bias for European currencies. AUD and CAD gains looks suspect given yield spread picture

USD, EUR, JPY, CHF flows: JPY under pressure as risk sentiment recovers

April 22, 2024 6:56 AM UTC

USD/JPY and EUR/JPY testing the highs. EUR/USD steady

USD/JPY flows: Testing recent high

April 22, 2024 4:34 AM UTC

USD/JPY testing recent high again

USD flows: USD well supported after Philly Fed strength

April 18, 2024 1:12 PM UTC

USD marginally higher after Philly Fed, with highest manufacturing index for 2 years

USD, EUR, JPY, AUD, GBP flows: USD softer as yields dip

April 18, 2024 6:52 AM UTC

USD corrected lower with US yields overnight. Little news scheduled today but Fed speakers could drive trade. GBP softer after Bailey comments

JPY, AUD flows: JPY weakness reaching pain threshold

April 17, 2024 2:01 PM UTC

JPY weakness still being driven by declining risk premia, but some action needed from Japanese authorities soon if they are to avoid losing credibility.

USD/JPY flows: Taking a break

April 17, 2024 6:05 AM UTC

Japan March exports +7.3% y/y (expected +7.0%)

JPY flows: JPY spike probably not intervention, but...

April 16, 2024 2:04 PM UTC

The sharp JPY spike after the US equity market open doesn't look like intervention, but the threat remains

USD/JPY flows: One way train

April 16, 2024 4:50 AM UTC

USD remains strong

USD, EUR, CHF, JPY flows: USD firm on retail sales, JPY under pressure

April 15, 2024 1:10 PM UTC

Stronger thna expected retail sales keep the USD well bid. JPY under pressure but risk of intervention rising.

USD, EUR, CHF, JPY flows: USD firm, risk appetite recovering, JPY weak

April 15, 2024 6:56 AM UTC

Market seeing Iran attack on Israel as less bad than feared, risk appetite edging up, JPY weakening