Intervention whispers lift EUR as dollar wobbles amid USD/JPY pressure
TL;DR Summary
Suspected USD/JPY intervention—possibly involving the US—has contributed to roughly a 3.5% drop in the dollar since Friday, lifting EUR/USD through 1.18 and pushing USD/CHF lower. The move isn’t seen as fundamentally driven, but the dollar risk premium could stay elevated ahead of this week’s FOMC meeting. Key levels to watch include DXY with a resistance at 97.42 and support near 96.20–96.35, while USD/JPY faces intraday resistance around 155.65. Regional central-bank moves toward rate cuts are supporting euro strength, with traders eyeing earnings and macro data for signs of sustenance.)
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