USD/JPY corrects sharply after Japan official says recent FX moves are 'extremely worrying'

Market news

28 April 2022

USD/JPY corrects sharply after Japan official says recent FX moves are 'extremely worrying'

An official at Japan’s Finance Ministry said Thursday, the recent FX moves are 'extremely worrying'.

Additional comments

Important for forex rates to move stably reflecting fundamentals.

Excess FX volatility is undesirable.

Will take appropriate action if needed.

Communicating closely with BOJ, currency authorities of other countries.

Market reaction

In an immediate reaction to the Japanese jawboning, USD/JPY dropped nearly 65-pips to 130.20 before recapturing 130.50.

The spot is currently trading at 130.56, up 1.65% on the day, having hit 131.00 for the first time in 20 years in the last hour.

Currencies. Daily history for Thursday, April 28, 2022

Commodities. Daily history for Wednesday, April 27, 2022

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.