Dollar Collapses Against Yen and Swiss Franc as Gold Prices Stumble

The US dollar has seen significant losses against several major currencies, with the most notable being its decline against the Japanese yen.

The USD/JPY pair has collapsed, with the yen climbing to its highest level since May. This marks a significant shift in the currency market, particularly given that it comes after intervention efforts aimed at boosting the dollar.

In other news, gold prices have struggled to maintain their strength, reflecting a decline of roughly 1.5% over the last two trading sessions.

The US dollar's performance against the Swiss franc has also been noteworthy, with an initial plunge on Thursday followed by a bounce in the New York session, where it found support near the 50-day EMA.