- USD/JPY tries to stabilize after a collapse of more than 600 pips.
- The yen consolidates gains after the Bank of Japan shock.
- The dollar rises slightly in a day of relative calm.
USD/JPY is rising moderately and is trading just below 132.00. On Wednesday it is moving sideways between 132.40 and 131.50, after falling over 600 pips on Tuesday.
The dollar rises modestly while Wall Street futures show gains. Treasury bond yields do not present significant variations.
in search of calm
Tuesday the bank of japan surprised markets by widening the top of the range on 10-year bond yields from 0.25% to 0.50%. This triggered a strong rally in the yen across the market, reaching a record high. A slight correction is taking place on Wednesday, with the yen holding on to most of the gains.
The crosses of the Japanese currency look more stable, in line with the main crosses in a day of relative calm.
The dollar does not register significant variations in general. The DXY climbs 0.05%. The Existing Home Sales and Consumer Confidence report will be released in the US later on Wednesday.
technical levels
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
