The US Dollar is under the pump today even though the Federal Open Market Committee (FOMC) hiked the target rate by 25 basis points (bp) as widely anticipated. While the move is unequivocally a tightening of policy, it was in the post-meeting press conference that the message appeared to get somewhat jumbled when Fed Chair...Read More

The Japanese Yen gained 1.08% against the US Dollar on Wednesday, which is a notable achievement given JPY’s persistent depreciation since 2021. What was the cause of this move? Reports crossed the wires that the Bank of Japan conducted a rate check, opening the door to market intervention for the first time since 1998. Traders...Read More