FX Daily: USD Rally Getting Tired

The USD rally is showing signs of exhaustion as momentum fades. Markets are watching 162.0 in USD/JPY for potential intervention.

Key Takeaways

• 1.The USD rally is showing signs of exhaustion as bullish momentum fades despite recent positive data.
• 2.Market sentiment is coalescing around 162.0 USD/JPY as a critical threshold for potential FX intervention by the Bank of Japan.
• 3.The Czech National Bank remains the most hawkish in the region, providing support for the CZK despite global dollar strength.

Table of Contents

• USD: Testing rally resilience
• EUR: Stabilisation may continue
• JPY: 162.0 new line in the sand?
• CZK: Hawkish CNB keeps support intact despite stronger dollar pressure

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