On 23 September (Wednesday), the FX market was driven by developments in Iran, the direction of the US dollar, Japanese yen and euro, and speculation about FX intervention based on the Bank of Japan's rate check late last week.
This article identifies developments in Iran and the direction of the US dollar, Japanese yen and euro as the key factors in focus today, and outlines the renewed speculation about FX intervention. Japanese markets are closed for a holiday, while attention is also focused on the release of major economic indicators and remarks from officials in Europe and the United States. Although a trend toward a stronger dollar and weaker yen has been observed intermittently, market caution over the prospect of intervention remains present.
The article also lists major events in chronological order, including the US manufacturing and services PMIs, remarks by Federal Reserve officials, weekly crude oil inventories and a 5-year Treasury auction, showing how the results of each indicator and officials' remarks are treated as market-moving factors for the FX market. Flash PMI figures from Europe and the UK are also cited as market-moving factors.