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Dollar Plunges as BOJ Intervention Sparks Global Market Shift

Guavy AI Editorial Team
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USDC NFP
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The US Dollar Index (DXY) took a hit as USD/JPY plunged due to possible intervention by the Bank of Japan, leading to a dip in the dollar index ahead of the NFP data release today.

This decline has led to a rise in Euro and EURINR, which are heading towards 1.17 and 110-110.50 respectively, while EURJPY has plummeted below 182 and appears bearish for a test of 180.

Aussie is expected to rise towards 0.73, while the Pound may test 1.3450 before rebounding from there. USDCNY is heading towards 6.71/70, and the Indian Rupee has scope to strengthen to 94 before seeing a reversal.

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