Affiliate Disclosure
Affiliate Disclosure adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Forex Today: Bank of Japan Yen Intervention Threat Remains

The Japanese Yen and the USD/JPY currency pair especially remain under threat of volatility as markets await US CPI data tomorrow and potential intervention from the Bank of Japan.


Top Forex Brokers

    1. Markets remain focused on the Japanese Yen, as the Japanese Finance Minister makes non-committal comments following the Governor of the Bank of Japan’s remarks about a potential rate hike if the inflation target is met by the end of 2023, which drove up the value of the Japanese Yen quite strongly. There could be more volatility in the Yen as the danger of further intervention by the BoJ has not passed – additionally, there will be a release of US CPI (inflation) data tomorrow which might trigger volatility in markets.
    2. In the Forex market, the USD/JPY currency pair remains in focus, with its long-term bullish trend remaining intact as the price starts to gain again. Since the Tokyo open, the strongest major currency has been the Australian Dollar, while the Japanese Yen has been the weakest.
    3. Crude Oil remains strong, with the price continuing to edge up, very close to a bullish breakout into new long-term highs. OPEC and the US Energy Information Administration will both publish monthly market reports later today.
    4. Bitcoin is threatening to break down to new 2-month lows as the crypto sector remains weak, but it has bounced back so far in trading today.
    5. There will be a release today of UK claimant count change data (unemployment claims), which is expected to show a net increase of 90k new claims over the past month.
    6. It is likely to be a relatively quiet day in the market, as crucial US inflation data is awaited tomorrow.
    Adam Lemon
    About Adam Lemon

    Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.


    Most Visited Forex Broker Reviews