Bitcoin Holds $79k as Yen Rally Tests Market Resilience
Bitcoin held above $79,000 during a 3.7% yen rally, avoiding the 20% crash seen in 2024. Japan spent $94.6B on intervention.
Bitcoin held above $79,000 during a 3.7% yen rally, avoiding the 20% crash seen in 2024. Japan spent $94.6B on intervention.
USDJPY dropped 1.15% as yen strengthened on BOJ rate hike bets. Geopolitical tensions pushed oil prices higher. EUR and GBP fell modestly.
USD/JPY falls below 155 for first time since February, as yen gains on technical and fundamental drivers.
USD/JPY trades at 155.60, down 0.4%; technicals remain bearish with key support at 155.00.
USD/JPY has a notable option expiry at 155.75 on 7 September, with intervention risks dominating trading.
USD/JPY plunged as markets price in likely back-to-back BOJ rate hikes, with September now nearly fully priced.
The US dollar had a mixed reaction to the blockbuster US jobs report, with technical levels causing reversals in some pairs.
The USD trades in narrow ranges ahead of the US jobs report, with technical levels highlighted for EURUSD, USDJPY and GBPUSD.
US and Canadian non-farm payrolls reports are due shortly. Markets focus on USD/JPY trading, fixed income yields, and Canada's employment after BOC held rates.
USD/JPY bounced near the 155.00 support after Fed's Waller turned dovish; markets await the US NFP report for further direction.
FX option expiry strikes and notional amounts for major pairs at the Sept. 4 New York cut.
Asian markets were directionless as traders awaited US payrolls, with currencies recovering and commodities steady.
JPMorgan warns a $103 billion yen short bet could accelerate USD/JPY losses below 155, though it doubts the rally will go much further.
Waller signaled no hurry to raise rates; yen jumped on suspected intervention.
Fed's Waller hints at rate hold on disinflation; stocks rise, yields and dollar fall as markets react.