Dollar-yen fell sharply as the yen strengthened, but no intervention or rate-check activity has been reported. While the dollar’s upward trend is strengthening as the fourth quarter begins, the market is testing a recovery of the 200-day moving average.
Dollar-yen has been sold rapidly since earlier, falling to around 157.47, for example. Overall, while the dollar remains firm, yen strength is pushing dollar-yen lower.
As the U.S. and Japanese markets enter the fourth-quarter trading period, the dollar strengthened and the yen weakened, accelerating the rise in dollar-yen, which temporarily climbed to the mid-158s. The market is testing a recovery of the 200-day moving average.
No information on intervention has been reported so far, and there is no confirmed information that a rate check has been conducted.
Some observers suggest that the coordinated U.S.-Japan intervention conducted in July may continue to act as a strong signal supporting the yen.