Forex (SPOT)

USDJPY: Intraday Analysis & Update Setup

Against the yen, the dollar fell to a two-week low of 149.18, and was last down 0.8% at 149.315 yen USDJPY, capping a whirlwind week, in which the Japanese currency touched a one-year low against the dollar and 15-year trough against the euro. On the week, the dollar was down 0.2% versus the yen, its biggest weekly loss since late July. The drop in the yen earlier in the week came after the Bank of Japan tweaked its yield curve control policy on Tuesday, but not by as much as markets had expected.

Kazuo Ueda, the central bank’s governor, will continue to dismantle its ultra-loose monetary policy and look to exit the decade-long accommodative regime next year, Reuters reported on Thursday, according to six sources familiar with the central bank’s thinking.

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