USD/JPY prints fresh weekly low near 144.00 as intervention fears loom, US Dollar accelerates – by Sagar_Dua24 USDJPY BOJ Fed DollarIndex RiskAversion
S&P500 futures have posted significant losses in the Asian session. US equities also faced selling pressure on Wednesday after a holiday mood amid uncertainty propelled ahead of the quarterly result season. Investors are not anticipating overall decent improvement as monetary policy remained extremely tight by the Federal Reserve and commercial banks maintained tight credit conditions to protect asset quality in a turbulent environment.
Contrary to the sell-off in the USD/JPY pair, the US Dollar Index has printed a fresh four-day high at 103.40 as investors are confident that an interest rate hike by 25 basis points from theFederal Open Market Committee minutes released on Wednesday conveyed that policymakers were mixed between a small interest rate hike and a skip.
In addition to a Reuters poll, Japan's top financial diplomat Masato Kanda said this week that authorities were in close contact with US Treasury Secretary Janet Yellen and other overseas officials "almost every day" on currencies and broader financial markets, as reported by Reuters.
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