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The USD continues to show signs of volatility against the yen, but more importantly – strength. Although we have seen some central bank actions, at the same time – interest rate differential continues to be important.
Says issue discussed at ASEAN+3 finance ministers meeting and central bank governors conference
Forex traders said a weak trend in domestic equities also dented investor sentiments.
Wealthy business magnate Elon Musk is sounding the alarm about America's massive national debt, warning that unless action is taken to tackle the problem, the U.S. dollar will become worthless.
The Bank of Japan may have intervened in this pair, but at the end of the day, there is very little they can do to change the trend, only being able to slow it down.