The USD continues to strengthen against the JPY while US Supreme Court rulings have helped secure Federal Reserve policy independence. Meanwhile, the Euro faces downward pressure amid cooling economic growth and shifting rate hike expectations.
Key Takeaways
- 1.USD/JPY reached fresh highs, heightening intervention risks from Japanese policymakers.
- 2.The US Supreme Court ruled in favor of Fed Governor Lisa Cook, protecting the Federal Reserve's monetary policy independence.
- 3.Euro performance faces headwinds due to slowing cyclical growth momentum and energy price impacts.
Table of Contents
- USD/JPY rises above July 2024 high adding to intervention risks
- USD/JPY: Intervention risk & US Supreme Court ruling in focus
- USD DEBASEMENT FEARS HAVE EASED
- EUR: Slowing cyclical growth momentum remains headwind for euro
- KEY RELEASES AND EVENTS
- CERTIFICATION
- LEGAL ENTITIES AND BRANCHES
- GENERAL DISCLAIMERS
- COUNTRY AND REGION SPECIFIC DISCLAIMERS
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Authors
Lee Hardman
Securities
USDJPYXAU
Themes
Central Bank IndependenceCurrency InterventionEconomic Growth Cycles
Regions
GlobalEuropeJapanUnited StatesGermany